<SEC-DOCUMENT>0001292814-16-004886.txt : 20160603
<SEC-HEADER>0001292814-16-004886.hdr.sgml : 20160603
<ACCEPTANCE-DATETIME>20160603121001
ACCESSION NUMBER:		0001292814-16-004886
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160331
FILED AS OF DATE:		20160603
DATE AS OF CHANGE:		20160603

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:		161694706

	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>sbsitr1q16_6k.htm
<DESCRIPTION>ITR 1Q16
<TEXT>

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

<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>

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

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<DIV><FONT color=#000000 size=2 face="Times New Roman"><B>For&nbsp;May 26, 2016</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><FONT size=1></FONT>&nbsp;</DIV>

<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>

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

<DIV align=center></DIV>

<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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<BR>

<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>

<P></P>

<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="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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<H1 style="TEXT-INDENT: 0cm; MARGIN: 9.9pt 0cm 0pt 8.3pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Table of Contents</FONT></B></H1>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Company Information</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BORDER-TOP: #bfbfbf 1pt solid; PADDING-TOP: 0in" width="12%">

   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <TD style="BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="88%">

   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Capital Breakdown</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>1</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Cash Proceeds</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>2</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Parent Company<FONT style="FONT-SIZE: 10pt" face=Arial>'s</FONT> Financial Statements </FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <TD style="BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="88%">

   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>Balance Sheet</FONT>&nbsp;&#8211; Assets</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>3</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>Balance Sheet</FONT>&nbsp;&#8211; Liabilities</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in" width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>4</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Income Statement</FONT></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Statement of Comprehensive Income</FONT></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Statement of Cash Flows</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>8</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Statement of Changes in Equity</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>0</FONT>1/01/2016 to <FONT style="FONT-SIZE: 10pt" face=Arial>03</FONT>/31/2016</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>1<FONT style="FONT-SIZE: 10pt" face=Arial>0</FONT></FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>0</FONT>1/01/2015 to <FONT style="FONT-SIZE: 10pt" face=Arial>03</FONT>/31/2015</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>11</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>Income </FONT>Statement</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>12</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Comments on the Company<FONT style="FONT-SIZE: 10pt" face=Arial>'</FONT>s Performance</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>13</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Notes to the <FONT style="FONT-SIZE: 10pt" face=Arial>Interim </FONT>Financial Information</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>2<FONT style="FONT-SIZE: 10pt" face=Arial>1</FONT></FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Comments on the Company's Projections</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>68</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Other Information Deemed as Relevant by the Company</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>69</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Reports and Statements</FONT></B></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 13.5pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif>Unqualified Report on Special Review</FONT></FONT></P></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></DIV></DIV>

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<H2 style="LINE-HEIGHT: normal; MARGIN: 9.7pt 292.45pt 0pt 7.3pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Company Information / Capital Breakdown</FONT></B></H2>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.45pt 0cm 0.05pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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   <P style="TEXT-ALIGN: left; MARGIN: 4.55pt 71.2pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Number of Shares (Units)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.5pt 278.25pt 0pt 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Current Quarter</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 278.25pt 0pt 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>03/31/2016</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 4.5pt 0cm 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Paid-in Capital </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 2.5pt 71.2pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Common</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.5pt 278.25pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>683,509,869</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 71.2pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Preferred</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 278.25pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 2pt 71.2pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 278.25pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>683,509,869</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 4.5pt 71.2pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Treasury Shares</FONT></B></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 2.5pt 71.2pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Common </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.5pt 278.25pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 71.2pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Preferred</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 278.25pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE>

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<H2 style="LINE-HEIGHT: normal; MARGIN: 9.5pt 0cm 0pt 8.3pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Company Information / Cash Proceeds</FONT></B></H2>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>Event</FONT></B></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>Proceeds</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>Date of Payment</FONT></B></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>Type of Share</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>Class of Share</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>Earnings per Share</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>(Reais / Share)</FONT></B></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>Board of Directors&#8217; Meeting</FONT></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=left><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>3/<FONT style="FONT-SIZE: 8pt" face=Arial>24</FONT>/201<FONT style="FONT-SIZE: 8pt" face=Arial>6</FONT></FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #a6a6a6 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>Interest on <FONT style="FONT-SIZE: 8pt" face=Arial>Capital</FONT></FONT></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>Common</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #a6a6a6 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

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   <TD style="BORDER-BOTTOM: #a6a6a6 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>0.21930</FONT></FONT></P></TD></TR></TABLE>

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<P style="MARGIN: 0.35pt 0cm 0pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE>

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<H2 style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 73pt 0pt 7.3pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements / Balance Sheet- Assets (R$ thousand)</FONT></B></H2><FONT style="LINE-HEIGHT: 200%" face=georgia></FONT>

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<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 12.25pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 2.2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 20.65pt 0pt 48.95pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Current Quarter</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 20.65pt 0pt 69.95pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>03/31/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 2.05pt 0cm 0pt 20.75pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt 53.2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>12/31/2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Total Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 20.65pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>33,973,592</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>33,706,614</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Current Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3,340,819</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3,450,333</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Cash and Cash Equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,431,876</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,639,214</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,616,441</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,483,127</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Trade Receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,465,570</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,326,972</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.03.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>150,871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>156,155</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.03.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Related Party Balances and Transactions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>150,871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>156,155</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>56,714</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>64,066</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Recoverable Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>15,931</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>77,828</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.06.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Current Recoverable Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>15,931</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>77,828</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Current Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>219,857</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>186,098</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.08.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>219,857</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>186,098</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.08.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Restricted Cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>26,559</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>29,156</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.01.08.03.20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>193,298</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>156,942</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Noncurrent Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>30,632,773</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>30,256,281</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Long-Term Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,325,546</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,332,517</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>163,842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>182,616</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Trade Receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>163,842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>182,616</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Deferred Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>127,197</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>128,242</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01.06.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Deferred Income Tax and Social Contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>127,197</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>128,242</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Receivables from Related Parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>720,473</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>715,952</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01.08.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Receivables from Controlling Shareholders</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>720,473</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>715,952</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Noncurrent Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>314,034</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>305,707</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01.09.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Escrow Deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>82,941</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>76,663</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01.09.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>ANA &#8211; Water National Agency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>89,913</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>88,368</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.01.09.20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>141,180</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>140,676</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>86,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>85,062</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>29,907</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>28,105</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.02.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Equity Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>29,907</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>28,105</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Investment Properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>56,940</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>56,957</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Property, Plant and Equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>326,581</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>325,076</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Intangible Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>28,893,799</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>28,513,626</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Intangible Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>28,893,799</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>28,513,626</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.04.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Concession Contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>8,678,053</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>8,640,650</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.04.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Program Contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7,149,285</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7,139,105</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.04.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Services Contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>12,682,182</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>12,367,017</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1.02.04.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Software License</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>384,279</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>366,854</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 3 de 72</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

   <TD>

   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B></DIV></DIV><FONT lang=PT-BR><BR clear=all></FONT>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 64pt 0pt 7.3pt"><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Parent Company&#8217;s Financial Statements / Balance Sheet- Liabilities (R$ thousands)</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 64pt 0pt 7.3pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 12.25pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 2.2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 20.65pt 0pt 38.25pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Current Quarter</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 20.65pt 0pt 59.2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>03/31/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 2.05pt 0cm 0pt 20.75pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt 53.2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>12/31/2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Total Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 20.65pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>33,973,592</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>33,706,614</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Current Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3,959,221</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3,740,316</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Labor and Pension Plan Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>368,587</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>347,976</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Social Security Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>23,136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>39,650</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Labor Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>345,451</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>308,326</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Trade Payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>198,089</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>248,158</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Domestic Suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>198,089</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>248,158</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Tax Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>314,830</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>107,295</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Federal Tax Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>307,204</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>98,842</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.03.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Income Tax and Social Contribution Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>216,635</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.03.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>PIS-PASEP and COFINS (taxes on revenue) Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>42,518</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>40,505</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.03.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>INSS (social security contribution) Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>33,029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>33,836</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.03.01.20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Federal Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>15,022</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>24,501</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.03.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>State Taxes Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>162</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.03.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Municipal Taxes Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7,464</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>8,453</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Borrowings and Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,474,032</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,526,262</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Borrowings and Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,091,339</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,152,589</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.04.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>In Domestic Currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>201,944</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>251,343</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.04.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>In Foreign Currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>889,395</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>901,246</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.04.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>370,456</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>361,718</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.04.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financing through finance lease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>12,237</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>11,955</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>945,184</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>878,735</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Payables to Related Parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,698</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,210</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Payables to Controlling Shareholders</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,698</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,210</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>943,486</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>876,525</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Dividends and Interest on Capital Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>127,441</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>127,441</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Services Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>482,976</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>387,279</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05.02.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Refundable Amounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>9,516</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>8,820</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05.02.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Program Contract Commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>209,875</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>228,659</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05.02.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Private Public Partnership &#8211; PPP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>33,806</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>33,255</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05.02.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Indemnities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>19,014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>19,084</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.05.02.20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>60,858</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>71,987</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>658,499</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>631,890</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.06.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Tax, Social Security, Labor and Civil Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>145,859</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>142,123</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.06.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Tax Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>10,867</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>11,085</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.06.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Social Security and Labor Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>50,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>55,120</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.06.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Civil Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>84,406</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>75,918</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.06.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>512,640</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>489,767</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.06.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provisions for Environmental </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>10,293</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>9,955</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.06.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provisions for Customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>440,146</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>413,107</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.01.06.02.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provisions for Suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>62,201</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>66,705</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Non-Current Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>15,668,976</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>16,249,692</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Borrowings and Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>10,719,144</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>11,595,338</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Borrowings and Financing </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7,001,909</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7,353,397</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.01.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>In Domestic Currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,630,318</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,636,819</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.01.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>In Foreign Currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>5,371,591</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>5,716,578</FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

   <TD>

   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B></DIV></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 55pt 0pt 7.3pt"><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>&nbsp;Parent Company&#8217;s Financial Statements / Balance Sheet- Liabilities (R$ thousands)</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 55pt 0pt 7.3pt">&nbsp;</P>

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<TR>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 12.25pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 2.2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 20.65pt 0pt 38.25pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Current Quarter</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 20.65pt 0pt 59.2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>03/31/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 2.05pt 0cm 0pt 20.75pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt 53.2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>12/31/2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 2.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 20.65pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3,189,022</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3,719,001</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financing through finance lease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>528,213</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>522,940</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>4,456,103</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>4,204,030</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>4,456,103</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>4,204,030</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.02.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Pension Plan Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,892,361</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,832,216</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.02.02.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Program Contract Commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>87,703</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>92,055</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.02.02.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Private Public Partnership &#8211; PPP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,197,122</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,001,778</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.02.02.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Indemnities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>12,689</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>12,704</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.02.02.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Labor Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>15,786</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>16,345</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.02.02.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Deferred COFINS and PASEP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>134,277</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>132,921</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.02.02.20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>116,165</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>116,011</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>493,729</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>450,324</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Tax, Pension Plan, Labor and Civil Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>315,447</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>315,082</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.04.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Tax Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>52,401</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>51,050</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.04.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Social Security and Labor Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>227,280</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>225,798</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.04.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Civil Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>35,766</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>38,234</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.04.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>178,282</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>135,242</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.04.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provisions for Environmental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>117,353</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>72,669</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.04.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.95pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provisions for Customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>52,349</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>50,243</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.02.04.02.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.95pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provisions for Suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>8,580</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>12,330</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.95pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>14,345,395</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>13,716,606</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.95pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Paid-Up Capital </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>10,000,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>10,000,000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.03.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.95pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Profit Reserve</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>4,069,988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>4,069,988</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.03.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.95pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Legal Reserve</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>784,955</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>784,955</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.03.04.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.95pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Additional Dividend Proposed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>11,453</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>11,453</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.03.04.10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.95pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Reserve for Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3,273,580</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3,273,580</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.03.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.95pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Retained Earnings/Accumulated Losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>628,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 12.25pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2.03.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 4.95pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Comprehensive Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 20.65pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-353,382</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-353,382</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

   <TD>

   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B></DIV></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 190pt 0pt 7.3pt"><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Parent Company&#8217;s Financial Statements / Income Statement (R$ thousands)</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 190pt 0pt 7.3pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" border=0 cellSpacing=0 cellPadding=0>



<TR>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 6.75pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 7.75pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 6.05pt 0pt 31.25pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>YTD Current Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -0.45pt; MARGIN: 0cm 6.05pt 0pt 9.2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>01/01/2016 to 03/31/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0cm 0pt 7pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>YTD Previous Year <BR>01/01/2015 to 03/31/2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Revenue from Sales and/or Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 6.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3,027,842</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,468,641</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Cost of Sales and/or Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,941,276</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,758,677</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Cost of Sales and/or Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,328,890</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,182,301</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Construction Cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-612,386</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-576,376</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Gross Profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,086,566</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>709,964</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Operating Income/Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-457,903</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>426,298</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Selling Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-205,278</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-184,481</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>General and Administrative Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-260,194</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>577,608</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Operating Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7,629</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>29,283</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Operating Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>10,144</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>34,086</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04.04.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>COFINS and PASEP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-2,515</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-4,803</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Operating Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-2,147</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,774</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04.05.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Loss on Write-off of Property, Plant and Equipment Items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>931</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>8,301</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04.05.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Surplus Cost of Electricity Sold</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-2,955</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-5,532</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04.05.20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-123</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>5</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.04.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Equity Results</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,087</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,114</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Income Before Financial Result and Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>628,663</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,136,262</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financial Result</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>340,160</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-985,760</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.06.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financial Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>140,236</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>104,388</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.06.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financial Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>146,752</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>103,829</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.06.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Exchange Gains </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>39</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>559</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.06.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>COFINS and</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif> </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>PASEP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-6,555</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.06.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financial Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>199,924</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,090,148</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.06.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Financial Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-283,356</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-205,623</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.06.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Exchange Adjustments on Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>483,280</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-884,525</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Earnings Before Income Tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>968,823</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>150,502</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Income Tax and Social Contribution </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-340,034</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>167,676</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.08.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 8.2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-338,989</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.08.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 8.55pt 0pt 8.6pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Deferred</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,045</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>167,676</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 8.55pt 0pt 8.6pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Net Result from Continued Operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>628,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>318,178</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 8.55pt 0pt 8.6pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Profit/Loss for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>628,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>318,178</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.99</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 8.55pt 0pt 8.6pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Earnings per Share - (Reais / Share)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.99.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 8.55pt 0pt 8.6pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Basic Earnings per Share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.99.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 8.55pt 0pt 8.6pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Common Share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0.91994</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0.46551</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.99.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 8.55pt 0pt 8.6pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Diluted Earnings per Share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3.99.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 8.55pt 0pt 8.6pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Common Share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0.91994</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0.46551</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

   <TD>

   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 9.7pt 0cm 0pt 8.3pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Parent Company&#8217;s Financial Statements / Statement of Comprehensive Income</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

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   <P style="TEXT-INDENT: -1.4pt; MARGIN: 0in 3.65pt 0pt 6.3pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(R$ thousands)</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 8.1pt 0pt 3.75pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Code</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt 8.2pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Description</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>YTD Current Year </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 10.25pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>0</FONT>1/01/2016 to <BR><FONT style="FONT-SIZE: 8pt" face=Arial>03</FONT>/31/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif>YTD Previous Year </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 10.25pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>0</FONT>1/01/201<FONT style="FONT-SIZE: 8pt" face=Arial>5</FONT> to <BR><FONT style="FONT-SIZE: 8pt" face=Arial>03</FONT>/31/201<FONT style="FONT-SIZE: 8pt" face=Arial>1</FONT></FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 8.1pt 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net Income for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>628</FONT>,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>318</FONT>,178</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 8.1pt 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4.3</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Comprehensive Income for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>628</FONT>,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>318</FONT>,178</FONT></P></TD></TR></TABLE>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<H2 style="LINE-HEIGHT: 200%; MARGIN: 32.7pt 64pt 0pt 7.3pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements / Statement of Cash Flows &#8211; Indirect Method (R$ thousands</FONT></B></H2>

<P style="LINE-HEIGHT: 200%; MARGIN: 0pt 64pt 0pt 7.3pt">&nbsp;</P>

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   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 6.75pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Code</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 34.9pt 0pt 7.75pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Description</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.05pt 0cm 0pt 7pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>YTD Current Year</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 2.05pt 0cm 0pt 7pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>01/01/2016 to 03/31/2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.05pt 0cm 0pt 7pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>YTD Previous Year <BR>01/01/2015 to 03/31/2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Net Cash from Operating Activities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 6.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>732,647</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>476,478</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Cash from Operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,212,445</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>758,316</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Profit (Loss) before Income Tax and Social Contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>968,823</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>150,502</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.5pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.5pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provision and Inflation Adjustments on Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.5pt 6.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>122,301</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.5pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-84,524</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>GESP Agreement</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-696,283</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Finance Charges from Customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-67,055</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-49,035</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 8.05pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Residual Value of Property, Plant and Equipment and Intangible Assets Written-off</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>339</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-8,301</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Depreciation and Amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>284,656</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>253,308</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 21.45pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Interest on Borrowings and Financing Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>136,821</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>121,043</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.5pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.5pt 41.95pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Monetary and Exchange Change on Borrowings and Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.5pt 6.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-430,351</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.5pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>940,559</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.5pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.5pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Interest and Monetary Change on Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.5pt 6.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>9,967</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.5pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6,045</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.5pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Interest and Monetary Change on Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-50,977</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-14,807</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Allowance for Doubtful Accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>56,078</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>47,343</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 21.45pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provision for Consent Decree (TAC)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,073</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-43,148</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Equity Results</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-2,087</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,114</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.14</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provision for Sabesprev Mais</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,277</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,044</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Provisions/Reversals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-6,900</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-3,563</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.16</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Transfer of Funds to S&#227;o Paulo Municipal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>97,402</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>68,423</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 9.4pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Gross Margin over Intangible Assets Resulting from Concession Contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-12,894</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-12,090</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.5pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.01.18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.5pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Pension Plan Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.5pt 6.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>102,972</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.5pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>81,914</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Changes in Assets and Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-205,275</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-70,537</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Trade Receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-90,341</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,367</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Related Party Balances and Transactions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>17,534</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>12,556</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7,242</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6,638</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Recoverable Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>61,897</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-25,804</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-32,345</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-19,428</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Escrow Deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>9,422</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-648</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Contractors and Suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-5,380</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-11,648</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Payroll, Provisions and Social Contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>19,538</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>25,774</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Pension Plan Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-42,827</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-39,927</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Taxes and Contributions Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-85,300</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>4,643</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Services Received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,705</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>15,434</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-12,079</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-8,182</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.14</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-52,287</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-32,081</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.02.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Deferred COFINS/PASEP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,356</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-231</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-274,523</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-211,301</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Interest Paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-228,369</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-193,558</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.01.03.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Income Tax and Social Contribution Paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-46,154</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-17,743</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Net Cash from Investing Activities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-411,287</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-530,248</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Acquisition of Intangible Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-400,978</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-519,959</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Acquisition of Property, Plant and Equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-12,906</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-8,402</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 34.9pt 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Increase in Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>244</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 200%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

   <TD>

   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 55pt 0pt 7.3pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia>&nbsp;</FONT><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Parent Company&#8217;s Financial Statements / Statement of Cash Flows &#8211; Indirect Method (R$ thousands)</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 55pt 0pt 7.3pt">&nbsp;</P>

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<TR>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 6.75pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 34.9pt 0pt 7.75pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 2.05pt 0cm 0pt 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>YTD Current Year</FONT></B></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -0.45pt; MARGIN: 0cm 6.05pt 0pt 10.4pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>01/01/2016 to 03/31/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 2.05pt 0cm 0pt 7pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>YTD Previous Year <BR>01/01/2015 to 03/31/2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Restricted Cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 6.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,597</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-2,131</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Net Cash from Financing Activities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-528,698</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>68,750</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Funding</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>174,708</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>311,671</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.03.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-662,193</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-203,905</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.03.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Public-Private Partnership (PPP)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-8,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-5,611</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.03.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Program Contract Commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-33,102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-33,405</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Increase (Decrease) in Cash and Cash Equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-207,338</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>14,980</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.05.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Opening Cash and Cash Equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,639,214</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,722,991</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>6.05.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 0cm 0cm 7.75pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Closing Cash and Cash Equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,431,876</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,737,971</FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B></DIV></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<H2 style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 218.15pt 0pt 7.3pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements / Statement of Changes in Equity - 01/01/2016 to 03/31/2016 (R$ thousands)</FONT></B></H2>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 218.15pt 0pt 7.3pt">&nbsp;</P>

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<TR>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.95pt 4.95pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.95pt 0cm 0pt 5.95pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: left; TEXT-INDENT: -2.75pt; MARGIN: 1.95pt 8.85pt 0pt 76.2pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Paid-up Capital </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: justify; TEXT-INDENT: 4.25pt; MARGIN: 1.95pt 14.75pt 0pt 9.8pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Capital Reserves, Options Granted and Treasury Shares</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 12.65pt 0pt 0cm"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Profit Reserves</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.95pt 0cm 0pt 12.75pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Retained Earnings / Accumulated Losses</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.95pt 0cm 0pt 14.85pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other Comprehensive Income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 1.85pt 0pt 0cm"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Equity</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.9pt 4.95pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.9pt 0cm 0pt 5.95pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Opening Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 9.7pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,000,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 12.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,069,988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 14.2pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-353,382</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13,716,606</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 4.95pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 0cm 0pt 5.95pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Restated Opening Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 9.7pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,000,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 12.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,069,988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.2pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-353,382</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13,716,606</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 4.95pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 0cm 0pt 5.95pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Comprehensive Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 9.7pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 12.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.8pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>628,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.2pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>628,789</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 4.95pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.05.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 0cm 0pt 5.95pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Net Income for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 9.7pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 12.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.8pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>628,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.2pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>628,789</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 4.95pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 0cm 0pt 5.95pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Closing Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 9.7pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,000,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 12.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>4,069,988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.8pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>628,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.2pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-353,382</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>14,345,395</FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B></DIV></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 218.15pt 0pt 7.3pt"><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Parent Company&#8217;s Financial Statements / Statement of Changes in Equity - 01/01/2015 to 03/31/2015 (R$ thousands)</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 218.15pt 0pt 7.3pt">&nbsp;</P>

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<TR>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.95pt 4.95pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.95pt 0cm 0pt 5.95pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: left; TEXT-INDENT: -2.75pt; MARGIN: 1.95pt 8.85pt 0pt 76.2pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Paid-up Capital </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: justify; TEXT-INDENT: 4.25pt; MARGIN: 1.95pt 14.75pt 0pt 9.8pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Capital Reserves, Options Granted and Treasury Shares</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 12.65pt 0pt 0cm"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Profit Reserves</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.95pt 0cm 0pt 12.75pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Retained Earnings / Accumulated Losses</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.95pt 0cm 0pt 14.85pt" align=left><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Other Comprehensive Income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 1.85pt 0pt 0cm"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Equity</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.9pt 4.95pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.9pt 0cm 0pt 5.95pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Opening Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 9.7pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,000,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 12.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,694,151</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 14.2pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-389,748</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13,304,403</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 4.95pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 0cm 0pt 5.95pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Restated Opening Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 9.7pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,000,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 12.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,694,151</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.2pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-389,748</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13,304,403</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 4.95pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 0cm 0pt 5.95pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Total Comprehensive Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 9.7pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 12.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.8pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>318,178</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.2pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>318,178</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 4.95pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.05.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 0cm 0pt 5.95pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Net Income for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 9.7pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 12.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.8pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>318,178</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.2pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>318,178</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="6%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 4.95pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>5.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="20%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.7pt 0cm 0pt 5.95pt" align=left><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>Closing Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 9.7pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>10,000,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.75pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 12.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>3,694,151</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.8pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>318,178</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 14.2pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>-389,748</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif>13,622,581</FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B></DIV></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<H2 style="LINE-HEIGHT: 200%; MARGIN: 9.7pt 154pt 0pt 7.3pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements / Statement of Value Added (R$ thousands)</FONT></B></H2>

<P style="LINE-HEIGHT: 200%; MARGIN: 0pt 154pt 0pt 7.3pt">&nbsp;</P>

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<TR>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 6.75pt 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 7.75pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 42.3pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>YTD Current Year</FONT></B></P>

   <P style="TEXT-ALIGN: left; TEXT-INDENT: -0.5pt; MARGIN: 0cm 6pt 0pt 20.2pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>01/01/2016 to 03/31/2016</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 7pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>YTD Previous Year </FONT></B></P>

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 0cm 0pt 7pt" align=left><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>01/01/2015 to 03/31/2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 2.05pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 6.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>3,149,974</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 1.9pt 0pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,579,701</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Operating Revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,570,628</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,004,492</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other Revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>10,144</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>34,086</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Revenue from the Construction</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>625,280</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>588,466</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Allowance for/Reversal of Doubtful Accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-56,078</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-47,343</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Inputs Acquired from Third Parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,266,547</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,051,814</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Costs of Sales and Services </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-1,059,023</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-989,974</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Materials, Energy, Outside Services and Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-205,377</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-64,614</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-2,147</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,774</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Gross Value Added</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,883,427</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,527,887</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Retentions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-284,656</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-253,308</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Depreciation, Amortization and Depletion</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-284,656</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-253,308</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Net Value Added Produced</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,598,771</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,274,579</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Wealth Received in Transfer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>148,878</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>801,785</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.06.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Equity Results</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,087</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,114</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.06.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Finance Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>146,791</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>104,388</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.06.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>696,283</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.06.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>GESP Reimbursement &#8211; Benefits Paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>696,283</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Total Value Added to Distribute</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,747,649</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,076,364</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Value Added Distribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,747,649</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>2,076,364</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Personnel</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>534,056</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>498,634</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Salaries and wages</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>335,347</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>322,756</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>168,305</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>137,592</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Government Severance Indemnity Fund for Employees (FGTS)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>30,404</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>38,286</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Taxes and Contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>638,401</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>76,306</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Federal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>610,576</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>48,927</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>State</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>19,410</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>19,883</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Municipal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>8,415</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7,496</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Value Distributed to Providers of Capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-53,597</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,183,246</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>-76,207</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>1,162,620</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.03.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Rental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>22,610</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>20,626</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Value Distributed to Shareholders</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>628,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>318,178</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 1.4pt 6.75pt 0pt 2pt" align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>7.08.04.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="52%">

   <P style="MARGIN: 0cm 0cm 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Retained Earnings/Accumulated Loss for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>628,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 1.9pt 0cm 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>318,178</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 12 de 72</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B></DIV></DIV>

<P style="TEXT-INDENT: -18pt; MARGIN: 3.2pt 0cm 0pt 41.25pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -18pt; MARGIN: 3.2pt 0cm 0pt 41.25pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>1.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>Financial Highlights</FONT></B></P>

<P style="MARGIN: 3.2pt 0cm 0pt 22.5pt">&nbsp;</P>

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<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>&nbsp;</TD>

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,570.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,004.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>566.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Construction revenue</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>625.3 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>588.4 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>36.9 </FONT></P></TD>

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(168.1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(124.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(43.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>35.2 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3,027.8 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,468.6 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>559.2 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>22.7 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,794.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(789.1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,005.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>127.4 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Construction costs</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(612.4)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(576.4)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(36.0)</FONT></P></TD>

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Equity result</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>90.9 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Other operating revenue (expenses), net</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>5.5 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>32.1 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(26.6)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(82.9)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Earnings before financial result, income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>628.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,136.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(507.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(44.7)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial result</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>340.2 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(985.8)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,326.0 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(134.5)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Earnings before income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>968.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>150.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>818.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>543.7 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(340.0)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>167.7 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(507.7)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(302.7)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>628.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>318.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>310.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>97.6 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.92 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.47 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

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

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>* Total shares = 683,509,869</FONT></P></TD>

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

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

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

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

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="TEXT-ALIGN: left; TEXT-INDENT: 0cm; MARGIN: 0.05pt 0pt 0pt 21pt" align=left><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>Adjusted EBITDA Reconciliation&nbsp;(Non-accounting measures)</FONT></B></H3>

<P style="MARGIN: 0cm 0cm 0pt 22.5pt">&nbsp;</P>

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



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>&nbsp;</TD>

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

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>628.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>318.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>310.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>97.6 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>340.0 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(167.7)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>507.7 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(302.7)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial result</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(340.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>985.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1,326.0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(134.5)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Other operating revenues (expenses), net</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(5.5)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(32.1)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>26.6 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(82.9)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Adjusted EBIT*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>623.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,104.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(481.1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(43.6)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>284.7 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>253.3 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>31.4 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>12.4 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>907.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,357.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(449.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(33.1)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

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

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="55%" noWrap>

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

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>30.0 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>55.0 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

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

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

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

   <TD>

   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.05pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.1pt 0cm 0pt"><B><I><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 20.95pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>* Adjusted EBIT is net income before: (i) other operating revenues/expenses, net; (ii) financial result; and (iii) income tax and social contribution.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 2.2pt; MARGIN: 4pt 52.95pt 0pt 20.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(**) Adjusted EBITDA is net income before: (i) depreciation and amortization expenses; (ii) income tax and social contribution; (iii) financial result; and (iv) other operating revenues/expenses, net.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; MARGIN: 6.15pt 52.95pt 0pt 21pt"><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In 1Q16, net operating revenue, including construction revenue, reached R$ 3.0 billion; a 22.7% increase compared to the same period of 2015.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; MARGIN: 6.05pt 36.1pt 0pt 21pt"><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Costs and expenses, including construction costs, totaled R$ 2.4 billion, 76.3% higher than the R$ 1.4 billion recorded in 1Q15.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; MARGIN: 6.05pt 52.95pt 0pt 21pt"><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Adjusted EBIT, in the amount of R$ 623.1 million, dropped 43.6% from R$ 1,104.2 million recorded in 1Q15.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; MARGIN: 6.05pt 52.95pt 0pt 21pt"><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Adjusted EBITDA, in the amount of R$ 907.8 million, reduced 33.1% from R$ 1,357.5 million recorded in 1Q15 (R$ 3,524.6 million in the last 12 months).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; MARGIN: 6.05pt 37.05pt 0pt 21pt"><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>The adjusted EBITDA margin was 30.0% in 1Q16, versus 55.0% in 1Q15 (28.7% in the last 12 months). Excluding construction revenues and construction costs, the adjusted EBITDA margin was 37.2% in 1Q16 (71.6% in 1Q15 and 38.8% in the last 12 months).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; MARGIN: 6.05pt 52.95pt 0pt 21pt"><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In 1Q16 the Company recorded a net income of R$ 628.8 million, in comparison to a net income of R$ 318.2 million in 1Q15.</FONT></FONT></P>

<P style="MARGIN: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -17.95pt; MARGIN: 3.2pt 0cm 0pt 38.95pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>2.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>Gross operating revenue</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 5.9pt 37.05pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Gross operating revenue from water and sewage, not including construction revenue, totaled R$ 2.6 billion, an increase of R$ 566.1 million or 28.2%, when compared to the R$ 2.0 billion recorded in 1Q15.</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: 0.45pt 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 52.95pt 0pt 21pt"><FONT style="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; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 5.95pt 37.1pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>15.2% tariff increase (7.8% ordinary tariff adjustment and 6.9% extraordinary tariff revision) since June 2015;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 5.5pt 37.05pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Lower bonus granted within the Water Consumption Reduction Incentive Program, with a R$ 153.8 million impact in 1Q16, versus the R$ 211.2 million recorded in 1Q15</FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 5.5pt 37pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Application of contingency tariff, in the amount of R$ 160.6 million in 1Q16 (R$ 79.3 million in 1Q15); and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 5.5pt 0cm 0pt 39pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Increase of 1.9% in the Company&#8217;s total billed volume (1.0% in water and 3.0% in sewage).</FONT></P>

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<P style="TEXT-INDENT: -15.55pt; MARGIN: 7pt 0cm 0pt 36.55pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>3.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>Construction revenue</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; MARGIN: 6.4pt 36.1pt 0pt 21pt"><FONT style="LINE-HEIGHT: 103%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Construction revenue increased R$ 36.9 million or 6.3%, when compared to the previous year. The variation was mainly due to higher investments in the municipalities served by the Company</FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></FONT></P><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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<P style="TEXT-INDENT: -15.55pt; MARGIN: 3.2pt 0cm 0pt 36.55pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>4.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>Billed volume</FONT></B><B><FONT style="LETTER-SPACING: -0.25pt; FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif> </FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; MARGIN: 6.4pt 36.1pt 0pt 21pt"><FONT style="LINE-HEIGHT: 103%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>&nbsp;The following tables show the water and sewage billed volume, quarter-on-quarter, per customer category and region</FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></FONT></P>

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

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US 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>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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

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

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

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

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

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Water + Sewage</FONT></B></P></TD>

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

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

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

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

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

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

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

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

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

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>380.4 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>369.1 </FONT></P></TD>

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

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>320.3 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>308.7 </FONT></P></TD>

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

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>700.7 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>677.8 </FONT></P></TD>

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

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

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>40.4 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>40.5 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(0.2)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>38.2 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>38.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.3 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>78.6 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>78.6 </FONT></P></TD>

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

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>9.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4.0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>17.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>18.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>10.5 </FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8.4 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>5.0 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>17.9 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>18.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(3.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>438.0 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>428.6 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>376.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>364.7 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>814.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>793.3 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Wholesale <SUP>(3)</SUP></FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>52.0 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>56.5 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(8.0)</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>5.7 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>57.7 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>62.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(8.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>490.0 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>485.1 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.0 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>382.1 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>371.0 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3.0 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>872.1 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>856.1 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

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

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: #333399 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="100%" colSpan=10 noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US 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: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=2 noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=2 noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="20%" colSpan=2 noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Water + Sewage</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>279.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>267.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>241.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>230.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap align=right>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>520.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>498.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Regional<SUP> (2)</SUP></FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>159.0 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>160.7 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(1.1)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>134.9 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>133.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.8 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>293.9 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>294.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(0.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>438.0 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>428.6 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>376.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>364.7 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>814.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>793.3 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap align=right>

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

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Wholesale <SUP>(3)</SUP></FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>52.0 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>56.5 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(8.0)</FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>5.7 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap align=right>

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

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>57.7 </FONT></P></TD>

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

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>62.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(8.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>490.0 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>485.1 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.0 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>382.1 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>371.0 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3.0 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>872.1 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>856.1 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; HEIGHT: 1pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.9 </FONT></B></P></TD></TR></TABLE>

<P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="POSITION: relative"></FONT><FONT style="POSITION: relative"></FONT><FONT style="POSITION: relative"></FONT><FONT style="POSITION: relative"></FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Unaudited</FONT></P>

<P style="LINE-HEIGHT: 9.2pt; TEXT-INDENT: 0pt; MARGIN: 0.05pt 0cm 0pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2)</FONT><FONT style="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>Including coastal and interior region</FONT></P>

<P style="TEXT-INDENT: 0pt; MARGIN: 0cm 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(3)</FONT><FONT style="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>Reused water volume and non-domestic sewage are included in</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></DIV></DIV>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 3.2pt 0cm 0pt 41.25pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>5.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>Costs, administrative, selling and construction expenses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 5.9pt 37pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>In 1Q16, costs, administrative, selling and construction expenses, grew 76.3% (R$ 1,041.3 million). Excluding construction costs, total costs and expenses increased by 127.4%</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 5.95pt 37.1pt 0pt 20.95pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Excluding the effects of the non-recurring GESP Reimbursement transaction, costs and expenses increased by 16.7%</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 36.95pt 0pt 20.95pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>As a percentage of net revenue, costs and expenses were 55.3% in 1Q15 and 79.5% in 1Q16.Excluding the effects of the GESP Reimbursement effects, costs and expenses as a percentage of net revenue came to 83.5% in 1Q15</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></P>

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<P style="MARGIN: 0.05pt 0cm 0pt 22.5pt">&nbsp;</P>

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

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

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

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

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Payroll and benefits and pension plan obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>574.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>534.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>39.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>7.4 </FONT></P></TD></TR>

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

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>36.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>48.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(12.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(25.7)</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Treatment supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>75.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>72.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

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

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>282.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>295.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(13.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(4.6)</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Electric power</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>240.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>159.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>81.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>51.1 </FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>224.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>54.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>170.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>312.9 </FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Tax expenses</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>20.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>S&#227;o Paulo state government reimbursement</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(696.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>696.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Sub-total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,453.6 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>488.5 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>965.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>197.6 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>284.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>253.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>31.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>12.4 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Provision for doubtful credits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>56.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>47.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>18.6 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Sub-total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>340.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>300.6 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>40.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>13.4 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Costs, administrative and selling expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,794.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>789.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,005.3 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>127.4 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Construction costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>612.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>576.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>36.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Costs, adm., selling and construction expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,406.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,365.5 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,041.3 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>76.3 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>% of net revenue</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>79.5 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>55.3 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

<P style="MARGIN: 0cm 0cm 0pt"><B><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><I><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-INDENT: -19.45pt; MARGIN: 3.75pt 0cm 0pt 40.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>5.1.</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>Payroll and benefits and pension plan obligations</FONT></B></P>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 52.95pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>In 1Q16 payroll and benefits increased R$ 39.8 million or 7.4%, due to the following</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>:</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 0cm 39pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>R$ 18.8 million in the provision for the pension plan, arising from changes in actuarial assumptions;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 5.85pt 37.05pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>R$ 14.5 million, mainly due to the average wage increase of 9.7% in May 2015 and by the application of 1% related to the career and wage plan, since July 2015; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 5.5pt 0cm 0pt 39pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>R$ 5.9 million, due to the adjustment in healthcare expenses since July 2015.</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: 0.35pt 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -19.45pt; MARGIN: 0.05pt 0cm 0pt 40.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>5.2.</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>Supplies</FONT></B></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 5.9pt 36.1pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In 1Q16, expenses with supplies decreased R$ 12.5 million or 25.7%, from R$ 48.7 million to R$ 36.2 million, mostly due to the following:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 0.05pt 37.05pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Fuel, in the amount of R$ 6.7 million, mostly due to the fact that the generators used to pump water from the Cantareira System technical reserve were turned off in December 2015; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 5.5pt 37.1pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Lower use of materials in preventive and corrective maintenance in water and sewage systems, in computerized systems and conservation of properties and installations, in the amount of R$ 5.9 million</FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></FONT></P><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: -19.4pt; MARGIN: 3.75pt 0cm 0pt 40.4pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>5.3.</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>Services</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 37.05pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Services expenses, in the amount of R$ 282.4 million, dropped R$ 13.5 million or 4.6%, in comparison to R$295.9 million in1Q15. The main factors that led to this decrease were</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18pt; MARGIN: 5.95pt 0cm 0pt 39pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Water and sewage systems and connections maintenance, in the amount of R$ 10.3 million; and</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 5.9pt 37.2pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Advertising campaigns, in the amount of R$ 4.0 million, mainly due to the intensification in 1Q15, for the rational use of water</FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: -19.45pt; MARGIN: 0.05pt 0cm 0pt 40.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>5.4.</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>Electric power</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6.4pt 37.1pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Electric power expenses totaled R$ 240.4 million, an increase of R$ 81.3 million or 51.1% in comparison to the R$ 159.1 million in 1Q15. The main factors that contributed to this increase were:</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: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 0cm 37.05pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Average increase of 38.3% in the regulated market tariffs, with no significant variation in consumption;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 5.5pt 37.1pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Average increase of 165.2% in the grid market tariffs (TUSD), with a 5.3% decrease in consumption; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 102%; TEXT-INDENT: -18pt; MARGIN: 5.5pt 37.1pt 0pt 39pt"><FONT style="LINE-HEIGHT: 102%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 102%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Average increase of 10.5% in the free market tariff, with a 7.5% decrease in consumption.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 37.25pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In 1Q16 the regulated market accounted for 39.3% of the total electric power consumed by the Company, the free market accounted for 31.0% and the grid market accounted for 29.7% of total consumption.</FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: -19.45pt; MARGIN: 0.05pt 0cm 0pt 40.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>5.5.</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>General expenses</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 37pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>General expenses increased R$ 170.2 million, totaling R$ 224.6 million, versus the R$ 54.4 million recorded in 1Q15, mainly 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; MARGIN: 0.5pt 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 0cm 39pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>R$ 138.7 million increase in the provision for lawsuits; and</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 102%; TEXT-INDENT: -18pt; MARGIN: 5.9pt 37.05pt 0pt 39pt"><FONT style="LINE-HEIGHT: 102%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 102%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Higher provision for the Municipal Fund for Environmental Sanitation and Infrastructure, in the amount of R$ 27.7 million, as a result of the increase in revenues with the municipality of S&#227;o Paulo</FONT></FONT><FONT style="LINE-HEIGHT: 102%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></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: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -19.4pt; MARGIN: 0cm 0cm 0cm 40.4pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>5.6.</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>S</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Georgia>&#227;</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>o Paulo state government reimbursement</FONT></B></P>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; MARGIN: 0cm 37.05pt 0pt 21pt"><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In 1Q15, the Company entered into an agreement with the S&#227;o Paulo state government to receive the undisputed amount, related to the state&#8217;s debt with the Company, for the payment of the benefits to former employees (G0) dealt with by state Law #4,819, of August 26, 1958, that generated a credit in the result in the amount of R$ 696.3 million</FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></FONT></P><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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<H3 style="TEXT-ALIGN: justify; TEXT-INDENT: -19.45pt; MARGIN: 3.75pt 0cm 0cm 40.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.7.</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>Depreciation and amortization</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 37.05pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>R$ 31.4 million increase or 12.4%, reaching R$ 284.7 million in comparison to the R$ 253.3 million recorded in 1Q15, largely due to the beginning of operations of intangible assets, in the amount of R$ 2.4 billion.</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: 0.05pt 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -19.45pt; MARGIN: 0cm 0cm 0cm 40.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>5.8.</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>Provision for doubtful credits</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 37.05pt 0pt 20.95pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Increased R$ 8.8 million, mainly due to the lower recovery of amounts through settlements in 1Q16, in the amount of R$ 12.8 million, partially offset by the reduction in provisions for revenue losses, in the amount of R$ 4.0 million.</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: 14.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -15.55pt; MARGIN: 0cm 0cm 0cm 36.55pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>6.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>Other operating revenues (expenses),</FONT></B><B><FONT style="LETTER-SPACING: -0.5pt; FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif> net</FONT></B></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><B><FONT style="FONT-SIZE: 15pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 36.95pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>Other net operational revenues and expenses reported a negative variation of R$ 26.6 million, mainly due to the R$ 21.5 million drop from&nbsp;the sale of surplus&nbsp;electricity between the analyzed periods</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: -15.55pt; MARGIN: 6.55pt 0cm 0pt 36.55pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>7.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>Financial result</FONT></B></P>

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

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

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

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

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

<TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial expenses, net of revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(99.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(63.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(36.0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>56.4 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Net monetary and exchange variation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>440.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(922.0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,362.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(147.7)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial result</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>340.2 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(985.8)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,326.0 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(134.5)</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; MARGIN: 6.55pt 0cm 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6.55pt 0cm 0pt 22.5pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>7.1. Financial incomes and expenses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6.55pt 0cm 0pt 22.5pt">&nbsp;</P>

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



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 10pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interest and charges on international loans and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(37.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(30.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(7.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>23.7 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 10pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Interest and charges on domestic loans and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(95.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(86.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(8.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>9.8 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 10pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Other financial expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(52.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(20.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(32.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>159.9</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(185.3)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(137.3)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(48.0)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>35.0 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial revenues</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>85.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>73.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>12.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>16.3 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial expenses net of revenues</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(99.8)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(63.8)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(36.0)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>56.4 </FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; MARGIN: 6.55pt 0cm 0pt 22.5pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6.55pt 0cm 0pt 22.5pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>7.1.1. Financial expenses</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6.55pt 0cm 0pt 22.5pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial expenses grew R$ 48.0 million. The main reasons were:</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><B><FONT style="FONT-SIZE: 3pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 3.15pt 37.1pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>R$ 7.2 million in interest and charges on international borrowings and financing, due to the increase in the debt balance, despite the depreciation of the US dollar and the Yen versus the Brazilian Real in 1Q16 (-8.9% and -2.4%, respectively)</FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 5.5pt 37.15pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>R$ 8.5 million in interest and charges on domestic borrowings and financing, especially due to the funding of the 20<SUP>th</SUP> debenture issue, in December 2015; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 103%; TEXT-INDENT: -18pt; MARGIN: 5.5pt 37pt 0pt 39pt"><FONT style="LINE-HEIGHT: 103%" face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>R$ 32.3 million in other financial expenses, largely due to the higher provision of interest on lawsuits in 1Q16</FONT></FONT><FONT style="LINE-HEIGHT: 103%" face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>.</FONT></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: 10.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 52.95pt 0pt 20.95pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>7.1.2. Financial income</FONT></B></P>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.05pt 36.1pt 0pt 20.95pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Financial income increased R$ 12.0 million, largely due to the increased recognition of interest on installment agreements and financial investments in 1Q16.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE>

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<P style="MARGIN: 0cm 0cm 0pt 22.5pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>7.2. Monetary and exchange rate variation on assets and liabilities</FONT></B></P>

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

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

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

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

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Monetary variation on loans and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(52.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(56.2)</FONT></P></TD>

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

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(5.9)</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Currency exchange variation on loans and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>483.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(884.5)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,367.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(154.6)</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Other monetary variations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(45.1)</FONT></P></TD>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(12.2)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(32.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>269.7 </FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Monetary/exchange rate variation on liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>385.3 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(952.9)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,338.2 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(140.4)</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Monetary/exchange rate variation on assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>54.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>30.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>23.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

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

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   <TD style="BORDER-BOTTOM: #002060 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Monetary/exchange rate variation, net</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>440.0 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(922.0)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,362.0 </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(147.7)</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt 22.5pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt 22.5pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 36.95pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>The effect in 1Q16 was R$ 1,362.0 million, lower than in 1Q15, especially due to the positive variation of R$ 1,367.8 million in expenses with </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>exchange rate </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=arial,sans-serif>variation</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif> on borrowings and financing, due to the depreciation of the US dollar and the Yen versus the Brazilian Real in 1Q16 (-8.9% and -2.4%, respectively), when compared to the appreciation recorded in 1Q15 (20.8% and 20.3%, respectively). This amount was partially offset by the increase of R$ 32.9 million from higher provisions for the monetary restatement of lawsuits in 1Q16.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 36.95pt 0pt 21pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 36.95pt 0pt 21pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -15.55pt; MARGIN: 0cm 0cm 0cm 36.55pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>8.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>Income tax and social contribution</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 11.4pt 37.15pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Grew R$ 507.7 million, due to the increase in taxable income in 1Q16, when compared to the net loss recorded in 1Q15.</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: 0.05pt 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -15.55pt; MARGIN: 0.05pt 0cm 0pt 36.55pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>9.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>Indicators</FONT></B></P>

<P style="MARGIN: 0.55pt 0cm 0pt"><B><FONT style="FONT-SIZE: 13.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -19.45pt; MARGIN: 0cm 0cm 0cm 40.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>9.1.</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=arial,sans-serif>Operating</FONT></B></P>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 36.9pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In the first quarter of 2016, due to the greater availability of water, production volume increased by 8.8%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 36.9pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 36.9pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Water losses moved up this quarter, although this was already expected given that the reduction observed until now was not only due to the loss control initiatives, but was also to the water crisis and the consequent need to lower network pressures as a means of managing demand.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 36.9pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0.5pt 0cm 0pt 22.5pt">&nbsp;</P>

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<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="64%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Operating indicators </FONT></B><B><FONT style="FONT-SIZE: 12pt" color=white face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q16</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q15</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="12%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Water connections </FONT><SUP><FONT style="FONT-SIZE: 8pt" face=cambria>(1)</FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8,477 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8,258 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2.7 </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Sewage connections</FONT><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif> </FONT><SUP><FONT style="FONT-SIZE: 8pt" face=cambria>(1)</FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>6,917 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>6,705 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3.2 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Population directly served - water </FONT><SUP><FONT style="FONT-SIZE: 8pt" face=cambria>(2)</FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>25.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>25.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.2 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Population directly served - sewage </FONT><SUP><FONT style="FONT-SIZE: 8pt" face=cambria>(2)</FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>22.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>22.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Number of employees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>13,816 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>14,167 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(2.5)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Water volume produced</FONT><SUP><FONT style="FONT-SIZE: 10pt" face=cambria> </FONT></SUP><SUP><FONT style="FONT-SIZE: 8pt" face=cambria>(3)</FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>667 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>613 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8.8 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>IPM - Measured water loss (%) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>29.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>29.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3.1 </FONT></P></TD></TR>

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   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>IPDt (liters/connection x day)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>275 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>290 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap align=right>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>(5.2)</FONT></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-INDENT: 0cm; MARGIN: 0cm 0cm 0cm 30pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(1)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Total connections, active and inactive, in thousand units at the end of the period</FONT></P>

<P style="LINE-HEIGHT: 9.2pt; TEXT-INDENT: 0pt; MARGIN: 0.05pt 0cm 0pt 30pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(2)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&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-INDENT: 0cm; MARGIN: 0cm 346.5pt 0pt 30pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(3)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>In million of cubic meters</FONT></P>

<P style="MARGIN: 0cm 0pt 0pt 30pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(*)&nbsp;&nbsp;&nbsp; Unaudited</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="TEXT-ALIGN: justify; TEXT-INDENT: -19.45pt; MARGIN: 3.75pt 0cm 0cm 40.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>9.2.</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>Financial</FONT></B></H3>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt 22.5pt">&nbsp;</P>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>Economic Indexes </FONT></B><B><FONT style="FONT-SIZE: 12pt" color=white face=arial,sans-serif>*</FONT></B><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif> (quarter end)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q16</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q15</FONT></B></P></TD></TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Accumulated Amplified Consumer Price Index (%)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2.62</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3.83</FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Accumulated Referential Rate (%)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.45</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.23</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="76%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Interbank Deposit Certificate (%)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>14.13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>12.60</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="76%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>US DOLAR (R$)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3.5589</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3.2080</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="76%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>YEN (R$)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.03166</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.02675</FONT></P></TD></TR></TABLE>

<P style="MARGIN: 0.35pt 0cm 0pt"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 52.95pt 0pt 30pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>* Unaudited</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="TEXT-INDENT: -23.35pt; MARGIN: 4.7pt 0cm 0pt 44.35pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>10.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>Borrowings and financing</FONT></B></H1>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.55pt 0cm 0pt 22.5pt">&nbsp;</P>

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



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>&nbsp;</TD>

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

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

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

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

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

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

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

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

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="28%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>2018</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>2019</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>2020</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>2021</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=white face=arial,sans-serif>2022 to 2038</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; PADDING-TOP: 0in" width="9%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Local market</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Caixa Econ&#244;mica Federal</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>38.1</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>55.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>58.6</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>60.3</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>62.4</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>65.5</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>728.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,067.9</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>89.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>592.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>876.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>978.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>406.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>193.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>422.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>3,559.5</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>59.6</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>79.5</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>79.5</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>79.5</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>61.8</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>61.3</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>261.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>682.2</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>8.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>22.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>23.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>24.7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>26.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>27.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>408.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>540.5</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.5</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.4</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1.4</FONT></P></TD>

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

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

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

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

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

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>11.8</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Interest and charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>58.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>12.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>70.2</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Local market total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>254.3</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>762.0</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,039.0</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,144.8</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>557.9</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>349.1</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,825.0</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>5,932.1</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>International market</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>117.5</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>202.7</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>113.3</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>113.3</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>113.3</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>113.3</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,209.2</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,982.6</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>7.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>14.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>14.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>181.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>217.3</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>498.2</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,241.7</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,739.9</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

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

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>34.6</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>70.6</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>72.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>116.2</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>116.2</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>116.2</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,274.5</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,800.3</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>BID 1983AB</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>85.2</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>85.2</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>84.3</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>63.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>60.9</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>27.4</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>52.3</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>458.3</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Interest and charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>62.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>0.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>62.6</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>International market total</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>798.1</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>358.5</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>269.6</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>299.8</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,546.6</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>271.4</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,717.0</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>6,261.0</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; BORDER-TOP: #002060 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

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

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; BORDER-TOP: #002060 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,052.4</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; BORDER-TOP: #002060 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,120.5</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; BORDER-TOP: #002060 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,308.6</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; BORDER-TOP: #002060 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>1,444.6</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; BORDER-TOP: #002060 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>2,104.5</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; BORDER-TOP: #002060 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>620.5</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; BORDER-TOP: #002060 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>4,542.0</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #eeece1; BORDER-TOP: #002060 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>12,193.1</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -23.35pt; MARGIN: 11.4pt 0cm 0pt 44.35pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>11.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=navy face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=arial,sans-serif>Capex</FONT></B></P>

<P style="MARGIN: 5.9pt 52.95pt 0pt 21pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>In the first quarter of 2016, the Company invested R$665.4 million.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE></FONT></B></H4>

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<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 0cm 0pt 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>1</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Operations</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=PT-BR color=black face=Georgia>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo ("SABESP" or the "Company") is a mixed-capital company headquartered in S&#227;o Paulo, at Rua Costa Carvalho, 300, CEP 05429-900, controlled by the S&#227;o Paulo State Government. </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company is engaged in the provision of basic and environmental sanitation services in the State of S&#227;o Paulo, as well as it supplies treated water and sewage services on a wholesale basis</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.2pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>In addition to providing basic sanitation services in the State of S&#227;o Paulo, SABESP may perform these activities in other states and countries, and can operate in drainage, urban cleaning, solid waste handling and energy markets. The objective set in the new vision of SABESP is to be recognized as the company that ensured universal access to water and sewage services in its marketplace, in a sustainable and competitive manner, with excellence in customer service</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>As of March 31, 2016, the Company operated water and sewage services in 365 municipalities of the State of S&#227;o Paulo. Most of these municipalities operations are based on 30-year concession, program and services contracts. The Company has two partial contracts with the municipality of Mogi das Cruzes, however, since most of municipality is serviced by wholesale, it was not included in the 365 municipalities. As of March 31, 2016, the Company had 367 contracts</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>SABESP is not temporarily operating in some municipalities due to judicial orders. The lawsuits in progress refer to Cajobi, Iper&#243; and Macatuba, and the carrying </FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>amount</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> of these municipalities&#8217; intangible assets was R$9,573 as of March 31, 2016 (R$9,574 as of December 31, 2015).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, 53 concession agreements had expired and are being negotiated. From March 31, 2016 to 2030, 36 concession agreements will expire. </FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Management</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> believes that concession agreements expired and not yet renewed will result in new contracts, disregarding the risk of discontinuity in the provision of municipal water supply and sewage services. By March 31, 2016, 278 program and services contracts were signed (278 contracts as of December 31, 2015).</FONT></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, the carrying </FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>amount</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> of the underlying assets used in the 53 concessions of the municipalities under negotiation totaled R$6,203,708, accounting for 21.47% of the total, and the related gross revenue for the three-month period then ended totaled R$404,268, accounting for 12.65% of the total.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company&#8217;s operations are concentrated in the municipality of S&#227;o Paulo, which represents 52.83% of the gross revenues as of March 31, 2016 (46.75% as of March 31, 2015) and 43.89% of intangible assets (43.37% as of &nbsp;December 31, 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>On June 23, 2010, the State of S&#227;o Paulo, the Municipality of S&#227;o Paulo, the Company and the regulatory agency &#8220;Sanitation and Energy Regulatory Agency &#8211; ARSESP&#8221; signed an agreement to share the responsibility for water supply and sewage services to the Municipality of S&#227;o Paulo based on a 30-year concession agreement. This agreement is extendable for another 30 years, pursuant to the law. This agreement sets forth SABESP as the exclusive service provider and designates ARSESP as regulator, establishing prices, controlling and monitoring services</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Also, on June 23, 2010, the State of S&#227;o Paulo, the Municipality of S&#227;o Paulo and SABESP signed the &#8220;Public service provision agreement of water supply and sewage services&#8221;, a 30-year concession agreement which is extendable for another 30 years. This agreement involves the following activities</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: -7.75pt; MARGIN: 1.3pt 0cm 0pt 52.7pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>i.</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>protection of the sources of water in collaboration with other agencies of the State and the City;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -7.75pt; MARGIN: 1.3pt 0cm 0pt 52.7pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>ii.</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>capture, transport and treat of water;</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -7.75pt; MARGIN: 1.3pt 0cm 0pt 52.7pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>iii.</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>collect, transport, treatment and final dispose of&nbsp; sanitary sewage; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -7.75pt; MARGIN: 1.3pt 0cm 0pt 52.7pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>iv.</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>adoption of other actions of basic and environmental sanitation.</FONT></P>

<P style="MARGIN: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company operates under an authorization by public deed in some municipalities in the Santos coast region and in the Vale do Ribeira, where the Company started to operate after the merger of the companies that formed it. In September 2015, the Company entered into a water supply and sewage public utility services agreement with the municipality of Santos. Additional information is presented in Note 9(d) of the Annual Financial Statements of December 31, 2015.</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Article 58 of Law 11,445/07 determines that precarious and overdue concessions, as well as those effective for an undetermined period of time, including those that do not have an instrument formalizing them, will be valid until December 31, 2010. However, Article 2 of Law 12,693 of July 24, 2012, which amended Article 7-A of Law 11,578 of November 26, 2007, allows program agreements to be executed until December 31, 2016.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company&#8217;s Management understands that the concession agreements not yet renewed are valid and will be governed by Laws 8,987/95 and 11,445/07, including those municipalities served without an agreement.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Public deeds are valid and governed by the Brazilian Civil Code</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company's shares have been listed in the Novo Mercado (New Market) segment of BM&amp;FBovespa under the ticker symbol SBSP3 since April 2002 and on the New York Stock Exchange (NYSE) as American Depositary Receipts (&#8220;ADRs&#8221;) Level III, under the SBS code, since May 2002. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Since 2008, the Company has been setting up partnerships with other companies, which resulted in the following companies: Sesamm, &#193;guas de Andradina, Saneaqua Mairinque, Aquapolo Ambiental, &#193;guas de Castilho, Attend Ambiental and Paulista Geradora de Energia. Although SABESP has no majority interest in the capital stock of these companies, the shareholders&#8217; agreements provide for the power of veto and casting vote in certain issues jointly with associates, indicating the shared control in the management of investees</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.2pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>In the first quarter of 2016, the Company&#8217;s operations were still influenced by the 2014-2015 water shortage, which presented the lowest rainfall and inflow ever seen in 85 years, especially in the reservoirs composing the Cantareira System. During the rainy season, from October 2015 to March 2016, rainfall in the region returned to the normal levels expected for the period. Improved rainfall during the rainy season, which began in October 2015, the various measures adopted by the Company to mitigate water shortage impacts and continue serving the population, the collaboration of the population in water saving and the emergency works undertaken in 2014 and 2015 resulted in the partial recovery of water levels in the reservoirs of the Cantareira System</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 4.15pt 0cm 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has adopted several between February 2014 and the first months of 2016, such as</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 2.05pt 21.2pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Using pumps to remove water below the catchment level of the Cantareira System, the so-called &#8220;technical reserve&#8221;; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 2.05pt 21.2pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Offering of financial incentives to reduce consumption through bonus granted to consumers, whose volume consumed is below the average stipulated; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 2.05pt 21.2pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Using treated water from other producing systems to serve consumers previously supplied by the Cantareira System; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 2.05pt 21.2pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Intensifying</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> the advertising campaigns towards the rational use of water;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 2.05pt 21.2pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Reducing</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> pressure in the distribution network, in order to prevent water losses; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 2.05pt 21.2pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Adjusting the</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> treated the water volume sold to municipalities which operate their own distribution networks, due to lower availability;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 2.05pt 21.2pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Anticipating</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> investments to expand water safety in the Metropolitan Region of S&#227;o Paulo - RMSP </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 2.05pt 21.2pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Performing</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> short-term emergency works to increase water availability in the reservoirs, improving and optimizing supply systems in the RMSP, thereby lessening the impacts arising from the drought; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 2.05pt 21.2pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Installing</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> of ultrafiltration membranes which enabled rapid increase in the Guarapiranga and in the Rio Grande Systems&#8217; water production; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 2.05pt 21.2pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Implementing</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> of the contingency tariff for consumers whose volume consumed is above the average stipulated</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.05pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>At the end of September 2015, the main work was concluded and delivered to contribute to the water supply in the Metropolitan Region of S&#227;o Paulo. </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>This</FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia> interconnection will enable the transfer of up to 4m&#179;/s of the Rio Grande Reservoir (Billings) to the Alto Tiet&#234; System, bringing more water safety so that this system expand to regions previously served only by the Cantareira System</FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>. </FONT></FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.05pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.05pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Due to the normalization of rainfall in the rainy season, between October 2015 and January 2016, it was no longer necessary to pump water from the technical reserve of the PCJ Basin and the rules to obtain discounts (bonus) were changed in February 2016. As of March 24, 2016, in view of the increased rainfall and the predictability of water levels in the reservoirs, the Company requested ARSESP to cancel the Water Consumption Reduction Incentive Program and the Contingency Tariff. ARSESP complied with the Company&#8217;s request as of March 31, 2016 and the cancellation of the Water Consumption Reduction Incentive Program and the Contingency Tariff will be applied to the hydrometer readings as of May 1, 2016. Additionally, since December 2015, the period in which the pumping of the water pressure is reduced in the pipelines is returning to normal, i.e., only at night, as it was before the water crisis</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.25pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The water reservation volume at the reservoirs relies on several factors, such as levels of rain, temperature and atmospheric humidity, as well as the type and humidity of soil in water resources region</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>s.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>This scenario of water shortage also had adverse effects for the Company. As a result, since 2014, the Company has taken decisions to minimize these effects, such as</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 0cm 0cm 2pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Rearrangement of investments; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 0cm 0cm 2pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Expense budget reduction, </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 0cm 0cm 2pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Negotiation of overdue receivables (until March 31, 2016, the Company included in the State CADIN a total of 39 municipalities with unpaid water bills, including those municipalities served by wholesale); </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -18.3pt; MARGIN: 0cm 0cm 2pt 72.6pt"><FONT style="LINE-HEIGHT: 110%" face=symbol><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Contracting guarantee insurance for escrow deposits; and</FONT></FONT></P>

<P style="TEXT-INDENT: -18.3pt; MARGIN: 3.3pt 0cm 0cm 72.6pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Application of the extraordinary tariff revision since June 2015</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The Company&#8217;s Management expects that these measures and its impacts in generating of operating cash and the lines of credit available for investments, will be </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>sufficient</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia> to meet its short-term liabilities and not compromise the actions necessary to overcome the water shortage, preserving consumers&#8217; supply</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>See other disclosures about this matter in Note 24 &#8211; operating revenue.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The interim financial information was approved by the Board of Directors on May 12, 2016</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 0cm 0cm 0cm 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>2</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Basis of preparation and presentation of the financial statements</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Presentation of the quarterly financial information</FONT></P>

<P style="MARGIN: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The quarterly financial information as of March 31, 2016, was prepared based on the provisions of CPC 21 (R1) &#8211; Interim Financial Information and the international standard IAS 34 &#8211; Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), applicable to the preparation of Quarterly Information Form&#8211; ITR and they are fairly presented consistent with the rules issued by the Brazilian Securities and Exchange Commission (CVM). Therefore, this Interim Financial Information takes into consideration the official letter CVM/SNC/SEP 003 of April 28, 2011, which allows the entities to present selected notes to the financial statements, in cases of redundant information already disclosed in the Annual Financial Statements. </FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The interim financial information for March 31, 2016, therefore, does not include all the notes and reporting required by the annual financial statements, and accordingly, shall be read jointly with the Annual Financial Statements as of December 31, 2015, prepared pursuant to the International Financial Reporting Standards &#8211; IFRS, issued by the International Accounting Standards Board &#8211; IASB and pursuant to the accounting practices adopted in Brazil which observe the pronouncements issued by the Brazilian Accounting Pronouncements Committee- CPC</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.2pt 0cm 0pt 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>3</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Summary of significant accounting policies</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.05pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The accounting policies used in the preparation of the quarterly financial information for the quarter ended March 31, 2016 are consistent with those used to prepare the Annual Financial Statements for the year ended December 31, 2015. These policies are disclosed in Note 3 to the Annual Financial Statements</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B></DIV></DIV>

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<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0cm 0cm 0cm 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>4</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Risk Management</FONT></B></H4>

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<P style="LINE-HEIGHT: 225%; TEXT-INDENT: -17.1pt; MARGIN: 0cm 351pt 0pt 45pt"><FONT style="LINE-HEIGHT: 225%"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>4.1</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 225%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Financial Risk Management</FONT></B></FONT></P>

<P style="LINE-HEIGHT: 225%; MARGIN: 0cm 381.35pt 0pt 45pt"><FONT style="LINE-HEIGHT: 225%"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Financial risk factors</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.05pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company's activities are affected by Brazilian economic scenario, making it exposed to market risk (exchange rate and interest rate), credit risk and liquidity risk. The Company&#8217;s financial risk management is focused on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company&#8217;s financial performance.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 0cm 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has not utilized derivative instruments in any of the reported periods</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="LINE-HEIGHT: 220%; TEXT-INDENT: 0cm; MARGIN: 0.05pt 398.75pt 0pt 45pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Market risk Foreign currency risk</FONT></B></H4>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>SABESP&#8217;s foreign exchange exposure implies market risks associated with currency fluctuations, since the Company has foreign currency-denominated liabilities, mainly US dollar and yen-denominated short and long-term borrowings. </FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The management of SABESP&#8217;s foreign currency exposure considers several current and projected economic factors, besides market conditions.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>This risk arises from the possibility that the Company may incur in losses due to exchange rate fluctuations that would impact liability balances of foreign currency-denominated borrowings and financing raised in the market and related financial expenses. The Company does not maintain hedge or swap contracts or any derivative financial instrument to hedge against this risk. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>A significant amount of the Company&#8217;s financial debt is indexed to the U.S. dollar and Yen, in the total amount of R$6,285,244 as of March 31, 2016 (R$6,640,256 as of December 31, 2015). Below, the Company&#8217;s exposure to exchange risk:</FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Foreign currency</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>R$</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Foreign currency</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>R$</FONT></B></FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Borrowings and financing &#8211; US$</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,241,841</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>4,419,588</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,242,273</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>4,850,827</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Borrowings and financing &#8211; Yen</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>56,951,867</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,803,096</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>53,906,927</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,748,202</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Interest and charges from borrowings and financing &#8211; US$</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>58,742</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>29,813</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Interest and charges from borrowings and financing &#8211; Yen</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,818</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>11,414</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total exposure</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>6,285,244</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>6,640,256</FONT></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Borrowing cost </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>&#8211; US$</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(21,450)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(19,786)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Borrowing cost </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>&#8211; Yen</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(2,808)</FONT></FONT></P></DIV></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(2,646)</FONT></FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total foreign currency-denominated borrowings (Note 15)</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>6,260,986</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>6,617,824</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 13pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.2pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The 5% decrease in foreign-currency denominated debt between March 31, 2016 and December 31, 2015, was mainly due to the following</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -21.25pt; MARGIN: 0cm 21.1pt 0pt 84.4pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>1)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Exchange rate changes, due to the 8.9% decrease in the US dollar, from R$3.9048 as of December 31, 2015 to R$3.5589 as of March 31, 2016. The US dollar-denominated debt accounts for 71.2% of foreign currency-denominated debts; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -21.25pt; MARGIN: 0cm 21.1pt 0pt 84.4pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>2)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>A 3.1% increase in Yen-denominated debt, due to the funding of JICA 19 loan agreement, in the amount of R$137,167. This increase was reduced due to the 2.4% drop in the Yen exchange rate, from R$0.03243 as of December 31, 2015, to R$0.03166 as of March 31, 2016.</FONT></FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, if the Brazilian real had depreciated or appreciated by 10% against the US dollar and Yen, effects on results before taxes on the three-month period ended March 31, 2016, considering the other variables are as remaining constant, in addition to the impacts mentioned above, would have been R$628,524 (R$664,026 December 31, 2015), lower or higher, mainly as a result of exchange losses </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>or</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> gains on the translation of foreign currency-denominated borrowings.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Scenario I below presents the effect in income statements for the next 12 months, considering the projected rates of the U.S. dollar and the Yen. Considering the other variables as remaining constant, the impacts for the next 12 months are shown in scenarios II and III with possible depreciations of 25% and 50%, respectively, in the Brazilian real</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Scenario I (Probable)</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Scenario II </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(+25%)</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Scenario III </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(+50%)</FONT></B></FONT></P></DIV></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(*)</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Net currency exposure as of March 31, 2016 (Liabilities) in US$</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,241,841</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,241,841</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,241,841</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>US$ rate as of March 31, 2016</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>3.5589</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>3.5589</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>3.5589</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Exchange rate estimated to according to the scenario</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>4.2000</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>5.2500</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>6.3000</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Difference between the rates</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(0.6411)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1.6911)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(2.7411)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Effect on net financial result R$ - (loss) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(796,144)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(2,100,077)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(3,404,010)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Net currency exposure as of March 31, 2016 (Liabilities) in Yen</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>56,951,867</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>56,951,867</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>56,951,867</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Yen rate as of March 31, 2016</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0.03166</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0.03166</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0.03166</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Exchange rate estimated according to the scenario</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0.03363</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0.04204</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0.05044</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Differences between the rates</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(0.00197)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(0.01038)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(0.01878)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Effect on net financial result in R$ - (loss) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(112,195)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(591,160)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,069,556)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total effect on net financial result in R$ - (loss) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(908,339)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(2,691,237)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(4,473,566)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="64%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="100%" colSpan=4>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(*) For the probable scenario in US dollar, the exchange rate estimated for March 31, 2017 was used, pursuant to the Focus Report &#8211; BACEN, while for the Yen, the average exchange rate was considered for the 12-month period after March 31, 2016, according to BM&amp;FBovespa Reference Rate report.</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt 36pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.55pt 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0cm; MARGIN: 0cm 52.95pt 0pt 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Interest rate risk</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>This risk arises from the possibility that the Company could incur losses due to fluctuations in interest rates, increasing the financial expenses related to borrowings and financing.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has not entered into any derivative contract to hedge against this risk; however continually monitors market interest rates, in order to evaluate the possible need to replace its debt</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 4.15pt 36.1pt 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The table below provides the Company's borrowings and financing subject to variable interest rate</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 4.15pt 36.1pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>TR</FONT></FONT><SUP><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(i)</FONT></FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,490,213</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,498,085</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>CDI</FONT></FONT><SUP><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(ii)</FONT></FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,082,228</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,617,191</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>TJLP</FONT></FONT><SUP><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(iii)</FONT></FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,102,506</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,114,977</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>IPCA</FONT></FONT><SUP><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(iv)</FONT></FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,658,432</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,623,201</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>LIBOR</FONT></FONT><SUP><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(v)</FONT></FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,665,839</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,926,628</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Interest and charges</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>83,687</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>144,546</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>8,082,905</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>8,924,628</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 4.15pt 36.1pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.35pt 0cm 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -12.45pt; MARGIN: 0cm 0cm 0cm 57.45pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TR</FONT><FONT style="LETTER-SPACING: -0.9pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>&#8211;</FONT><FONT style="LETTER-SPACING: -0.85pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Interest Benchmark Rate</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -12.45pt; MARGIN: 0cm 0cm 0cm 57.45pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=PT-BR face=Georgia>(ii)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=PT-BR face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=PT-BR face=Georgia>CDI &#8211; (Certificado de Dep&#243;sito Interbanc&#225;rio), an interbank deposit certificate</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -12.45pt; MARGIN: 0cm 0cm 0cm 57.45pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=PT-BR face=Georgia>(iii)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=PT-BR face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=PT-BR face=Georgia>TJLP &#8211; (Taxa de Juros a Longo Prazo), a long-term interest rate index</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -12.45pt; MARGIN: 0cm 0cm 0cm 57.45pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=PT-BR face=Georgia>(iv)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=PT-BR face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=PT-BR face=Georgia>IPCA &#8211; (&#205;ndice Nacional de Pre&#231;os ao Consumidor Amplo), a consumer price index</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -12.45pt; MARGIN: 0cm 0cm 0cm 57.45pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(v)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>LIBOR &#8211; London Interbank Offered Rate</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0.4pt 0cm 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Another risk to which the Company is exposed, is the mismatch of the monetary restatement indices of its debts with those of its service revenues. Water supply and sewage services tariff adjustments do not necessarily follow the increases in the inflation indexes to adjust borrowings, financing and interest rates affecting the Company's indebtedness.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, if interest rates on borrowings and financing had been 1% higher or lower with all other variables held constant, the effects on profit before taxes for the three-month period ended March 31, 2016 would have been R$80,829 (R$89,246 in December 31, 2015), lower or higher, mainly as a result of lower or higher interest expense on floating rate borrowings and financing</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Credit risk</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Credit risk arises from cash and cash equivalents, deposits in banks and financial institutions, as well as credit exposures to wholesale basis and retail customers, including outstanding accounts receivable, restricted cash and accounts receivable from related parties. Credit risk exposure to customers is mitigated by sales to a dispersed base.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The maximum exposures to credit risk as of March 31, 2016 are the carrying amounts of instruments classified as cash equivalents, deposits in banks and financial institutions, restricted cash, trade receivables and accounts receivable from related parties in the balance sheet date. See additional information in Notes 6, 7, 8 and 9</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Regarding the financial assets held with financial institutions, the credit quality that is not past due or subject to provision for impairment can be assessed by reference to external credit ratings (if available) or to historical information about counterparty default rates. The credit quality of counterparties which are banks, such as deposits and financial investments, the Company considers the lower rating of the counterparty published by three main international rating agencies (Fitch, Moody's and S&amp;P), according to internal policy of market risk management</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Cash at bank and short-term bank deposits</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>AAA(bra)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,430,973</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,638,589</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other (*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>903</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>625</FONT></FONT></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,431,876</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,639,214</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.2pt 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 4.15pt 21.3pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(*)</FONT><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>This category includes current accounts and investment funds in banks, which have no credit rating information available</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.25pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The available credit rating information of the banks in which the Company made deposit transactions and financial investments in domestic currency (R$ - domestic rating) during the period is as follows</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

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   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Banks</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Fitch</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Moody's</FONT></B></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Standard Poor's</FONT></B></P></DIV></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=Georgia>Banco do Brasil S/A</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=Georgia>Banco Santander Brasil S/A</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Aa1.br</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>brAA-</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Brazilian Federal Savings Bank</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>AAA(bra)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Aa2.br</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>brAA-</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Banco Bradesco S/A</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>AAA(bra)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Aa2.br</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Ita&#250; Unibanco Holding S/A</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>AAA(bra)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Aa2.br</FONT></P></TD>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 3.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.2pt 0pt 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(c) Liquidity risk</FONT></B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.2pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.05pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company's liquidity is primarily reliant upon cash provided by operating activities, borrowings from Brazilian Federal and State governmental financial institutions, and financing in the domestic and international capital markets. The liquidity risk management considers the assessment of its liquidity requirements to ensure it has sufficient cash to meet its operating and capital expenditures needs, as well as the payment of debts.</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.05pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The funds held by the Company are invested in interest-bearing current accounts, time deposits and securities, selecting instruments with appropriate maturity or liquidity sufficient to provide margin as determined by projections mentioned above.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.05pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The table below shows the financial liabilities of the Company and S&#227;o Louren&#231;o PPP&#8217;s commitments, into relevant maturities, including the installment of principal and future interest to be paid according to the agreement</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>April to December 2016</FONT></B></FONT></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2017</FONT></B></FONT></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-STYLE: normal; FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2018</FONT></B></FONT></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-STYLE: normal; FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2019</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-STYLE: normal; FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2020</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2021 onwards</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Total</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>As of March 31, 2016</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></I></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Liabilities</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Borrowings and financing</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,439,910</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,638,641</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,778,733</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,864,268</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-STYLE: normal; FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2,474,349</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>6,880,463</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>16,076,364</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Accounts payable to suppliers and contractors</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>198,089</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-STYLE: normal; FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-STYLE: normal; FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>198,089</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Services payable</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>482,976</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-STYLE: normal; FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-STYLE: normal; FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>482,976</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Public-Private Partnership &#8211; PPP (*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>34,528</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>46,038</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>342,289</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>342,289</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-STYLE: normal; FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>342,289</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>5,556,197</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>6,663,630</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Program contract commitments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>208,958</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>38,818</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>28,358</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>28,569</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-STYLE: normal; FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>851</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>17,198</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>322,752</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.1pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(*)</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company also considered future commitments (construction not yet performed) not yet recognized in the financial statements related to S&#227;o Louren&#231;o PPP, due to the relevance of future cash flows, the impacts on its operations and the fact the Company already has formalized this commitment through an agreement signed by the parties</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.2pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Future interest</FONT></P>

<P style="MARGIN: 0.4pt 0cm 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Future interest was </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>calculated</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia> based on the contractual clauses for all agreements. For agreements with floating interest rate, the interest rates used correspond to the base dates above.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Cross default</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has borrowings and financing agreements including cross default clauses, i.e., the early maturity of any debt, may imply the early maturity of these agreements. The indicators are continuously monitored in order to avoid the execution of this clause</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0cm 0cm 0cm 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(d)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Other price risks</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company is exposed to the price risk of investment in equity instruments of Companhia de Transmiss&#227;o de Energia El&#233;trica Paulista &#8211; CTEEP, solely held for trading purposes in the short term. These shares were received in March 2015 as payment for the 24 initial installments of the GESP Agreement (further information about the GESP Agreement can be found in Note 10 (a) (vii) to the Annual Financial Statements of December 31, 2015). The balance totaled R$107,275 as of March 31, 2016 and is recorded under &#8220;other receivables&#8221; in current assets. As disclosed in Note 30, these shares were sold on April 20, 2016 for R$111.1 million</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Sensitivity analysis of equity instruments price</FONT></U></P>

<P style="MARGIN: 0.3pt 0cm 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 102%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 102%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The sensitivity analysis was </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>determined</FONT><FONT style="LINE-HEIGHT: 102%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> based on the exposure to the equity instruments price at the end of the reporting period</FONT></FONT><FONT style="LINE-HEIGHT: 102%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 102%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 102%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, if the equity instrument had appreciated or depreciated by 10%, compared to its market value, with all other variables held constant, the effect on results before taxes on the period would R$10,727, higher or lower</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 102%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(e)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Sensitivity analysis on interest rate risk</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The table below shows the sensitivity </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>analysis</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> of the financial instruments, prepared in accordance with CVM Rule 475/2008 in order to evidence the balances of main financial assets and liabilities, calculated at a rate projected until the final settlement of each contract, considering a probable scenario (scenario I), appreciation of 25% (scenario II) and 50% (scenario III).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The purpose of the sensitivity analysis is to measure the impact of changes in the market over the financial instruments of the Company, considering constant all other variables. In the time of settlement, the amounts can be different from those presented, due to the estimates used in the measurement</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>March 31, 2016</FONT></B></FONT></P></TD></TR>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Indicators</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Exposure</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Scenario I</FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(Probable) (i)</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Scenario II</FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>25%</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Scenario III</FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>50%</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 5.65pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 5.65pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Assets</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>CDI</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,371,249</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>12,7900%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>9,5925%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>6,3950%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Financial income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>175,383</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>131,537</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>87,691</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" width="40%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>CDI </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,082,228)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>12,7900%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>9,5925%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>6,3950%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Interest to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(138,417)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(103,813)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(69,208)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" width="15%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></DIV></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>CDI net exposure</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>289,021</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>36,966</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>27,724</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>18,483</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>TR</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,490,213)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0,0138%(***)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0,0173%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0,0207%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Expenses to be incurred </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(206)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(258)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(308)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>IPCA</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,658,432)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>6,0000%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>7,5000%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>9,0000%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Expenses to be incurred </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(99,506)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(124,382)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(149,259)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>TJLP</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,102,506)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>7,5000%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>9,3750%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>11,2500%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Interest to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(82,688)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(103,360)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(124,032)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

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   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

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   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>LIBOR </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(2,665,839)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0,7363%(**)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>0,9203%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,1044%</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Interest to be incurred</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(19,629)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(24,534)</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(29,442)</FONT></FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=Georgia></FONT>&nbsp;</P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=Georgia></FONT>&nbsp;</P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=Georgia></FONT>&nbsp;</P></DIV></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total net expenses to be incurred</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(165,063)</FONT></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(224,810)</FONT></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(284,558)</FONT></FONT></P></DIV></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(*) Source: CDI and IPCA (Focus Report &#8211; BACEN, March 31, 2016) and TJLP of March 31, 2016 (BACEN).</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(**) Source: Bloomberg</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(***)</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Source</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>: BM&amp;FBovespa</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 222.15pt 1.3pt 245.85pt" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; TEXT-INDENT: 2.25pt; MARGIN: 0cm 17pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: 0.65pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Refers to the scenario of interest to be incurred for the 12 months as of March 31, 2016 or until the maturity of the agreements, whichever is shorter</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 111%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<H4 style="TEXT-INDENT: -17.1pt; MARGIN: 4.15pt 0cm 0pt 45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>4.2</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Capital management</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company&#8217;s objectives when managing capital are ensure its ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders, and to maintain an optimal capital structure to reduce the cost of capital.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company monitors capital based on the leverage ratio. This ratio corresponds to net debt divided by total capital. Net debt corresponds to total borrowings and financing less cash and cash equivalents. Total capital is calculated as total equity as shown in the balance sheet plus net debt</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total borrowings and financing (Note 15)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>12,193,176</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>13,121,600</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(-) Cash and cash equivalents (Note 6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(1,431,876)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(1,639,214)</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Net debt</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>10,761,300</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>11,482,386</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>14,345,395</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>13,716,606</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total capital </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>25,106,695</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>25,198,992</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Leverage ratio</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>43%</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>46%</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 4.15pt 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The leverage ratio decreased from 46% as of December 31, 2015 to 43% as of March 31, 2016, due to the decreased balance of foreign-currency denominated borrowings and financing as a result of 8.9% and 2.4% depreciations of the US dollar and the Yen, respectively, on March </FONT></FONT><FONT style="LINE-HEIGHT: 111%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>31, 2016</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.3pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -17.15pt; MARGIN: 0.05pt 0cm 0pt 45.05pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>4.3</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Fair value estimates</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>It is assumed that balances from trade receivables (current) and accounts payable to suppliers by carrying amount, less impairment, approximate their fair values, considering the short maturity. Long-term trade receivables also approximate their fair values, as they will be adjusted by inflation and/or will bear contractual interest rates over time</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -17.05pt; MARGIN: 4.15pt 0cm 0pt 44.95pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>4.4</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Financial instruments</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.05pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has CTEEP&#8217;s shares, which are classified as financial asset held for trading and are recognized at fair value through profit or loss. This is the only financial instrument item of this category at March 31, 2016 and December 31, 2015. The Company&#8217;s financial instruments included in the borrowings and receivables category comprise cash and cash equivalents, trade receivables, related party balances, other receivables, balances receivable from the Water National Agency &#8211; ANA, and the financial instruments under other liabilities category comprised accounts payable to contractors and suppliers, borrowings and financing, balances payable deriving from the Public Private Partnership-PPP and program contract commitments, which are non-derivative financial assets and liabilities with fixed or determinable payments, not quoted in an active market</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, the Company did not have financial liabilities classified as fair value through profit or loss</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.3pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 225%; MARGIN: 0.05pt 173.85pt 0pt 45pt"><FONT style="LINE-HEIGHT: 225%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The estimated fair values of financial instruments are as follows</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>: </FONT></P>

<P style="LINE-HEIGHT: 225%; MARGIN: 0.05pt 173.85pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Financial assets</FONT></P><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Carrying amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Fair value</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Carrying amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Fair value</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,431,876</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,431,876</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,639,214</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,639,214</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Restricted cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>26,559</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>26,559</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>29,156</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>29,156</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Trade receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,629,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,629,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,509,588</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,509,588</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Water National Agency &#8211; ANA </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>89,913</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>89,913</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>88,368</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>88,368</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Financial asset held for trading (*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>107,275</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>107,275</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>101,500</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>101,500</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other receivables </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>227,203</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>227,203</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>196,118</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>196,118</FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 225%; MARGIN: 0.05pt 173.85pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 4.15pt 0cm 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>&nbsp;(*)</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Amount recorded under &#8220;other receivables&#8221; in current assets</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.4pt 0cm 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Additionally, SABESP has financial instrument assets receivables from related parties, in the amount of R$871,344 as of March 31, 2016 (R$872,107 as of December 31, 2015), which were calculated in accordance with the conditions negotiated between related parties. The conditions and additional information referring to these financial instruments are disclosed in Note 9 to this interim financial information and Note 10 to the Annual Financial Statements of December 31, 2015. Part of this balance, totaling R$777,063 (R$786,501 as of December 31, 2015), refers to reimbursement of additional retirement and pension plan - G0 and is indexed by IPCA plus simple interest of 0.5% p.m. This interest rate approximates that one practiced by federal government bonds (NTN-b) with terms similar to those of related-party transactions</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>For financial assets held for trading, the balance of which is measured at fair value at the end of each reporting period and recorded in the financial statements, SABESP measured such fair value at level 1 inputs, as required by the international financial reporting standards and the accounting practices adopted in Brazil, considering share price through quotation at the S&#227;o Paulo Stock Exchange (Bovespa) as of March 31, 2016</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Financial liabilities</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Carrying amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Fair value</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Carrying amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Fair value</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Borrowings and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>12,193,176</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>11,966,707</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>13,121,600</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>12,625,454</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Trade payables and contractors </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>198,089</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>198,089</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>248,158</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>248,158</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Services payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>482,976</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>482,976</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>387,279</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>387,279</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Program contract commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>297,578</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>297,578</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>320,714</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>320,714</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Public-Private Partnership - PPP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,230,928</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,230,928</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,035,033</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,035,033</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.55pt 0cm 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The criteria adopted to obtain the fair values of borrowings and financing, in preparing the interim financial information as of March 31, 2016, are consistent with those adopted in the Annual Financial Statements for the fiscal year ended December 31, 2015. In the Annual Financial Statements, these criteria are disclosed in Note 5.4.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Considering the nature of other financial instruments, assets and liabilities of the Company, the balances recognized in the balance sheet approximate the fair values, taking into account the maturities close to the end of the reporting period, comparison of contractual interest rates with market rates in similar operations at the end of the reporting period, their nature and maturity terms</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.4pt 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0cm; MARGIN: 0cm 52.95pt 0pt 10.45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Key accounting estimates and judgments</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.05pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Estimates and judgments are continually evaluated and are based on historical experience and on other factors, including expectations of future events that are </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>believed</FONT><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> to be reasonable under the circumstances.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.05pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The key accounting estimates and judgments are disclosed in Note 6 to the Annual Financial Statements as of </FONT></FONT>


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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>




<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.05pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0cm 0cm 0pt 45pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents </FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Cash and banks</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>60,627</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>77,233</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,371,249</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,561,981</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,431,876</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,639,214</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt 36pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.05pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Cash and cash equivalents include cash, bank deposits and high-liquidity short-term financial investments, mainly represented by repurchase agreements (accruing CDI interest rates), deposited at Banco do Brasil, whose original maturities are lower than three months, which are convertible into a cash amount and subject to an insignificant risk of change in value.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.05pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, the average yield of financial investments corresponds to 99.17% of CDI (99.24% for financial assets held for trading as of December 31, 2015)</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.35pt 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0cm; MARGIN: 0cm 52.95pt 0pt 10.45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restricted cash</FONT></B></H4>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Agreement with the S&#227;o Paulo municipal government (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>13,362</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>13,005</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Funds raised with the BNDES (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>7,304</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>7,109</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Brazilian Federal Savings &#8211; escrow deposit (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,926</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,433</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,967</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>7,609</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>26,559</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>29,156</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 13pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -1cm; MARGIN: 0cm 0cm 0pt 78pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agreement with the municipal government of S&#227;o Paulo where the Company transfers 7.5% of the Municipal revenue to the Municipal Fund;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -1cm; MARGIN: 0cm 0cm 0pt 78pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refers to funds raised with the Brazilian Development Bank&#8211; BNDES, awaiting the authorization for use;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -1cm; MARGIN: 0cm 0cm 0pt 78pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(iii)&nbsp;&nbsp;&nbsp;&nbsp; Refers to savings account for receiving escrow deposits regarding lawsuits with final and unappealable decisions in favor of the Company, which are blocked as per contractual clause.</FONT></FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<H4 style="TEXT-INDENT: 0cm; MARGIN: 0cm 52.95pt 0pt 10.45pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trade receivables </FONT></B></H4>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -27.6pt; MARGIN: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt 49.5pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(a)&nbsp;&nbsp; Financial position balances</FONT></B></P>

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   <P style="MARGIN: 0cm 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Private sector:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>General and special customers (i) (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,102,725</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,044,692</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Agreements (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>335,362</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>317,871</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,438,087</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,362,563</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Government entities:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Municipal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>500,362</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>503,309</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Federal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>5,940</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>5,738</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Agreements (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>236,220</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>207,066</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>742,522</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>716,113</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Wholesale customers &#8211; Municipal governments: (iv)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Guarulhos</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>835,762</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>810,285</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Mau&#225;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>427,537</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>416,749</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Mogi das Cruzes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,168</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,158</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Santo Andr&#233;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>875,259</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>857,424</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>S&#227;o Caetano do Sul</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,080</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,057</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Diadema </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>222,671</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>222,671</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Wholesale customers &#8211; Municipal governments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,365,477</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,311,344</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Unbilled supply</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>473,077</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>427,361</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Subtotal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>5,019,163</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>4,817,381</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Allowance for doubtful accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(3,389,751)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(3,307,793)</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,629,412</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,509,588</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,465,570</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,326,972</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Noncurrent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>163,842</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>182,616</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,629,412</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,509,588</FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0.25pt 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -16.15pt; MARGIN: 0cm 21.1pt 0pt 89.85pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>General customers - residential and small and mid-sized companies</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 73.7pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -16.15pt; MARGIN: 0cm 21.1pt 0pt 89.85pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(ii)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Special customers - large consumers, commercial, industries, condominiums and special billing consumers (industrial waste, wells, etc.).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 73.7pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -16.15pt; MARGIN: 0cm 21.1pt 0pt 89.85pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(iii)</FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> Agreements - installment payments of past-due receivables, plus monetary restatement and interest, when provided for in the agreements.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 73.7pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -16.15pt; MARGIN: 0cm 21.1pt 0pt 89.85pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(iv)</FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Wholesale basis customers - municipal governments - This balance refers to the sale of treated water to municipalities, which are responsible for distributing to, billing and charging final customers. Some of these municipalities are questioning in court the tariffs charged by SABESP, which have full allowance for doubtful accounts. Additionally, the overdue amounts are included in the allowance for doubtful accounts.</FONT></FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 52.95pt 0pt 72.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Changes in accounts receivables on a wholesale basis are as follows</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 0cm 52.95pt 0pt 72.6pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 6pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Three-month period ended March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 6pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Three-month period ended March 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 6pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 6pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Balance at beginning of the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,311,344</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,158,798</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Services provided</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>145,244</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>81,066</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Receivables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 6pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(91,111)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 6pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(24,218)</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Balance at the end of the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 6pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,365,477</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 6pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,215,646</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 52.95pt 0pt 72.6pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.25pt 0cm 0pt"><FONT style="FONT-SIZE: 13pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The aging of trade receivables is as follows</FONT></B></H4>

<P style="MARGIN: 0.2pt 0cm 0pt"><B><FONT style="FONT-SIZE: 12.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,237,321</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,195,098</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Past-due:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Up to 30 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>209,125</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>182,025</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>From 31 to 60 days </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>165,821</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>123,765</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>From 61 to 90 days </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>62,487</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>78,089</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>From 91 to 120 days </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>65,165</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>84,654</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>From 121 to 180 days </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>165,833</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>80,447</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>From 181 to 360 days </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>177,463</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>158,182</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Over 360 days </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,935,948</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,915,121</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total past-due</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,781,842</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,622,283</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>5,019,163</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>4,817,381</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.2pt 0cm 0pt"><B><FONT style="FONT-SIZE: 12.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.25pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The increase in the balance overdue is mainly due to accounts receivable at wholesale where municipalities served are challenging in court the tariffs charged by SABESP. These amounts are fully covered by the allowance for doubtful accounts</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 111%" face=georgia></FONT>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 34 de 72</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.55pt; MARGIN: 4.15pt 0cm 0pt 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Allowance for doubtful accounts</FONT></B></H4>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Balance at the beginning of the period</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,307,793</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,164,288</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Private sector /government entities</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>39,693</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>57,963</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Recoveries </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(22,856)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(14,229)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Wholesale customers</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>68,747</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>62,714</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Net additions for the period</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>85,584</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>106,448</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Write-offs in the period referring to accounts receivable</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(3,626)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>644</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Balance at the end of the period</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,389,751</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,271,380</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Reconciliation of provision for losses of income</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Losses (write-off)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>41,537</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,660</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Provision for state entities (related parties)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>246</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,399</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Provision for private sector /government entities</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>39,693</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>57,963</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Provision for wholesale customers</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(2,542)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(2,450)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Recoveries</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(22,856)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(14,229)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Amount recorded as selling expenses </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>56,078</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>47,343</FONT></FONT></P></TD></TR></TABLE></DIV>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 52.95pt 0pt 44.95pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Wholesale sales losses, amounting to R$71,289 from January to March 2016 and R$65,164 from January to March 2015, were also recorded as revenue reduction.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 52.95pt 0pt 44.95pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company does not have customers representing 10% or more of its revenues</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 5.2pt 0cm 0pt 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>9</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Related-Party Balances and Transactions</FONT></B></H4>

<P style="TEXT-ALIGN: justify; MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0.05pt 17pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company is a party to </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>transactions</FONT><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> with its controlling shareholder, the State Government, and companies related to it.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0.05pt 17pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Additional information is presented in Note 10 to the Annual Financial Statements of December 31, 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 111%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0cm; MARGIN: 4.15pt 0cm 1.8pt 45pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Accounts receivable, interest on capital payable, revenue and expenses with the S&#227;o Paulo State Government</FONT></B></H4>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Accounts receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Current:</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 8pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Water and sewage services </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>124,554</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>115,633</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 8pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Allowance for losses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(49,578)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(49,332)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 8pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Reimbursement for retirement and pension benefits paid:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 5.65pt 0pt 15pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>- Monthly flow (payments) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>6,605</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>20,564</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 5.65pt 0pt 15pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>- GESP Agreement</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>49,985</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>49,985</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 8pt"><FONT style="FONT-SIZE: 9pt" color=black face=Georgia>&#8220;Se Liga na Rede&#8221; program (l)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>19,305</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>19,305</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>150,871</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>156,155</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Noncurrent:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 8pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Reimbursement for retirement and pension benefits paid (G0):</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 15pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>- GESP Agreement &#8211; 2008 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>54,150</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>66,646</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 15pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>- GESP Agreement &#8211; 2015 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>666,323</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>649,306</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total noncurrent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>720,473</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>715,952</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total receivables from shareholders</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>871,344</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>872,107</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Assets:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Water and sewage services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>74,976</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>66,301</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Reimbursement for pension benefits (G0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>777,063</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>786,501</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=Georgia>&#8220;Se Liga na Rede&#8221; program (l)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>19,305</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>19,305</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>871,344</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>872,107</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Liabilities:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Interest on capital payable to related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>64,013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>64,013</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other (g)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,698</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,210</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Revenue from water and sewage services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Water supply </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>53,250</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>42,229</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Sewage services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>44,276</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>38,566</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Payments received from related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(87,651) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(77,786)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Receipt of GESP reimbursement referring to Law 4,819/58</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(46,666)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(33,201)</FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B></DIV></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Contingent assets -</FONT></B><B><FONT style="LETTER-SPACING: -1.55pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>GESP</FONT></B><B><FONT style="LETTER-SPACING: -1.55pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(not recorded)</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As mentioned above, as of March 31, 2016 and December 31, 2015, SABESP had contingent assets with GESP, not recorded in assets referring to the additional retirement and pension paid (Law 4,819/58), as follows</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>March 31, 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Disputed amounts receivable</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>870,842</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>855,054</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="62%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>870,842</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>855,054</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.5pt 0cm 0.05pt"><FONT style="FONT-SIZE: 12.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0.05pt 0cm 0pt 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Use of reservoirs</FONT></B><B><FONT style="LETTER-SPACING: -1.35pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>&#8211;</FONT></B><B><FONT style="LETTER-SPACING: -1.4pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>EMAE</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Empresa Metropolitana de &#193;guas e Energia S.A. - EMAE plans to receive for the credit and to obtain financial compensation for the use of water from the </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Guarapiranga</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> and Billings reservoirs, which SABESP uses in its operations, as well as the reimbursement of damages related to the failure to pay appropriately. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company understands that no </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>amounts</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> are due for the use of these reservoirs given the grants already made. Should these reservoirs not be available for use to the Company, there could be the need to collect water in more distant places. There is a risk of not properly rendering services in the region, besides increasing water supply cost. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Several lawsuits were filed by EMAE. Currently, an arbitration proceeding is in progress related to the Guarapiranga reservoir and a lawsuit related to the Billings reservoir, both pleading for financial compensation due to SABESP&#8217;s water collect for public supply, alleging that this conduct has been causing permanent and growing loss in the capacity of generating electricity of Henry Borden hydroelectric power plant with financial losses</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>On April 10, 2014, the Company issued a Notice to the Market including the information we have been discussing with EMAE about an eventual future agreement. However, no adjustment was confirmed and no agreement was executed by either party up to date</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>On April 11, 2016, SABESP was named in legal proceedings commenced by minority shareholders of EMAE,&nbsp;claimed that SABESP should abstain from using the water resources of the Henry Borden hydroelectric power plant, without appropriate definition of financial compensation due to EMAE, and determining the resumption of water pumping to the reservoirs used by the Henry Borden hydroelectric power plant, in detriment of the flow of these reservoirs and the generation of electric power by EMAE. The plaintiffs in these proceedings allege that the S&#227;o Paulo State, in its capacity as controlling shareholder of EMAE, has acted unduly to EMAE&#8217;s detriment and in favor of SABESP&#8217;s interests by allowing and consenting water intake from the Billings and Guarapiranga reservoirs, both of them belonging to EMAE, without the necessary financial compensation, making impracticable the satisfactory use of the Henry Borden hydroelectric power plant.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>SABESP understands that the expectation for all cases is of possible losses, and for the time being, it is not feasible to estimate the amounts involved, since they were not determined</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.2pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -27.65pt; MARGIN: 0cm 21.15pt 0pt 45pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(d)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT style="LINE-HEIGHT: 112%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Agreements with reduced tariffs with State and Municipal Government Entities that joined the Rational Water Use Program</FONT></B></FONT><B><FONT style="LETTER-SPACING: -1.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(PURA)</FONT></B></H4>

<P style="MARGIN: 0.1pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.05pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has signed agreements with government entities related to the State Government and municipalities where it operates that benefit from a reduction of 25% in the tariff of water supply and sewage services when they are not in default. These agreements provide for the implementation of the rational water use program, which takes into consideration the reduction in water consumption</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.2pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(e)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Guarantees</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The State Government provides guarantees for some borrowings and financing of the Company and does not charge any fee with respect to such guarantees</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.25pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -24.8pt; MARGIN: 0cm 0cm 0cm 69.8pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -24.8pt; MARGIN: 0cm 0cm 0cm 69.8pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -24.8pt; MARGIN: 0cm 0cm 0cm 69.8pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(f)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Personnel assignment agreement among entities related to the State Government</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.25pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has personnel assignment agreements with entities related to the State Government, whose expenses are fully passed on and monetarily reimbursed. From January to March 2016 and 2015, the expenses related to personnel assigned by SABESP to other state government entities </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>amounted</FONT><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> to R$2,247 and R$2,962, respectively. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.25pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>From January to March 2016 and 2015, expenses related to personnel assigned by other entities to SABESP totaled R$4 and R$52, respectively</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.3pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0.05pt 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(g)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Services obtained from state government entities</FONT></B></H4>

<P style="MARGIN: 0.35pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016 and December 31, 2015, SABESP had an outstanding amounts payable of R$1,698 and R$2,210, respectively, for services rendered by S&#227;o Paulo State Government entities</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0cm 0cm 0cm 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(h)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Non-operating assets</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016 and December 31, 2015, the Company had an amount of R$969 related to a free land lent to DAEE (Department of Water and Electricity)</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 4.15pt 0cm 0pt 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Sabesprev</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company sponsors a private defined benefit pension plan, which is operated and administered by Sabesprev. The net actuarial liability recognized as of March 31, 2016 amounted to R$690,890 (R$665,274 as of December 31, 2015), according to Note 19 (b)</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(j)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Compensation of Management Key Personnel</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Expenses related to the compensation to the members of its Board of Directors, Fiscal Council and Board of Executive Officers amounted to R$983 and R$977 from January to March 2016 and 2015, respectively. An additional amount of R$124 and R$141, related to the Officers&#8217; bonus program, was recorded from January to March 2016 and 2015, respectively</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(k)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Loan agreement through credit facility</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company holds interest in certain Special Purpose Entities (SPEs), not holding the majority interest but with cast vote and power of veto in some issues, </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>with</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> no ability to use such power of veto in a way to affect returns over investments. Therefore, these SPEs are considered for accounting purposes as jointly-owned subsidiaries.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has loan agreement through credit facility with the SPEs Aquapolo Ambiental S/A and Attend Ambiental S/A, respectively, to finance the operations of these companies, until the borrowings and financing requested with financial institutions is cleared. These agreements have the following characteristics</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="30%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>SPE</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Principal disbursed amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Interest balance</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Interest rate</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Maturity</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="30%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Attend Ambiental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5,400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2,158</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>7,558</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>SELIC + 3.5 % p.a.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(i)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="30%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Aquapolo Ambiental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5,629</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5,094</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>10,723</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>CDI + 1.2% p.a.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>04/30/2016 (ii)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="30%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Aquapolo Ambiental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>19,000</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>10,014</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>29,014</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>CDI + 1.2% p.a.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>10/30/2015 (ii)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="30%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>30,029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>17,266</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>47,295</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -17.35pt; MARGIN: 6.35pt 21.1pt 0pt 79.65pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -17.35pt; MARGIN: 6.35pt 21.1pt 0pt 79.65pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -17.35pt; MARGIN: 6.35pt 21.1pt 0pt 79.65pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The loan agreement with SPE Attend Ambiental S/A matures within 180 days, from the date when the respective amount is available in the borrower&#8217;s account, renewable for the same period. The credit has been overdue since May 11, 2015 and is subject to contractual default charges (inflation adjustment considering the IGP-M variation, 2% fine and default interest of 1% p.m.). The agreement has being renegotiated between the parties</FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; TEXT-INDENT: -17.35pt; MARGIN: 5.85pt 21.2pt 0pt 79.65pt"><FONT style="LINE-HEIGHT: 111%"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(ii)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The agreement expired on April 30, 2015 was amended and its maturity was extended to October 30, 2015. The </FONT></FONT><FONT style="LINE-HEIGHT: 111%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Company and Aquapolo Ambiental S/A are renegotiating the payment terms and the maturity of both agreements</FONT></FONT><FONT style="LINE-HEIGHT: 111%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 5.95pt 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>As a result of the renegotiations, the principal, in the amount of R$30,029, and interest, in the amount of R$17,266, were classified in noncurrent assets until new payment conditions are agreed upon</FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>.</FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia> As of March 31, 2016, the balance of principal and interest rates of these agreements was R$47,295 (R$45,289 as of December 31, 2015). From January to March 2016, a financial income recognized was R$2,006 (R$2,334 from January to March 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P>

<P style="MARGIN: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(l)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>&#8220;Se Liga na Rede&#8221; (Connect to the Network Program)</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The State Government enacted the State Law 14,687/12, creating the pro-connection program, destined to financially subsidize the execution of household branches necessary to connect to the sewage collecting networks, in low-income households, which agreed to adhere to the program. The program expenditures, except for indirect costs, construction margin and borrowing costs are financed with 80% of funds deriving from the State Government and the remaining 20% invested by SABESP, which is also liable for the execution of works. As of March 31, 2016, the program total amount was R$78,859 (R$78,447 as of December 31, 2015), R$19,305 (R$19,305 as of December 31, 2015) recorded in balances receivable from related parties, the amount of R$34,501 (R$34,089 as of December 31, 2015) recorded in the group of intangible assets and R$25,053 (R$25,053 as of December 31, 2015) reimbursed by GESP</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.3pt 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 0cm 0cm 0cm 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>10</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Water National Agency - ANA</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has agreements executed within the scope of the Hydrographic Basin Depollution Program (PRODES), also known as "Treated Sewage Purchase Program".</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>This program does not finance works or equipment, remunerates by results achieved, i.e., by effectively treated sewage. In this program, the Water National Agency (ANA) makes available funds, which are restricted to a specific current account and applied in investment funds at the Caixa Econ&#244;mica Federal - Federal Savings Banks (CEF), until the fulfillment of treated sewage volume is evidenced, as well as, the reduction of polluting cargoes of each agreement. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>When resources are made available, liabilities are recorded until funds are released by ANA. After the evidence of targets stipulated in each contract, the revenue deriving from these funds is recognized, but if these targets are not met, funds will return to the National Treasury with the appropriate funds earnings. As of March 31, 2016, the balances of assets and liabilities were R$89,913 (R$88,368 as of December 31, 2015), and the liabilities are recorded under "other liabilities" of noncurrent liabilities</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.4pt 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 0cm 0cm 0cm 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>11</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Investments</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.2pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company holds interest in certain Special Purpose Entities (SPE). Although SABESP has no majority shares of its investees, the shareholders&#8217; agreement provides for the power of veto in certain management issues, with no ability to use such power of veto in a way to affect returns over investments, indicating participating shared control (joint venture &#8211; CPC 19 (R2))</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.2pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 44.95pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company holds interest valued by the equity method</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.2pt 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 107%; MARGIN: 0cm 21.1pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 107%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>See information on the operations of each investee in Note 12 to the Annual Financial Statements as of December 31, 2015.</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.2pt 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.2pt 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Summary of the investees&#8217; financial statements and SABESP&#8217;s equity interest</FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></B></H4>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Company</FONT></B></FONT></P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Equity</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Provisioned dividends</FONT></B></FONT></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Profit (loss) for the period</FONT></B></FONT></P></DIV></TD></TR>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>March 31, </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2016</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>December 31, </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2015</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>January to March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2016</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>January to March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2016</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>January to March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2015</FONT></B></FONT></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Sesamm</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>33,631</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>32,313</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,318</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,803</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>&#193;guas de Andradina </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>17,810</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>15,191</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(572)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>3,191</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>369</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>&#193;guas de Castilho</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>4,232</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>3,449</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(185)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>968</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>173</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Saneaqua Mairinque</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>3,153</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>3,560</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(193)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(214)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>415</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Attend Ambiental</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>4,227</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>3,084</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>- </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,143</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,573</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Aquapolo Ambiental</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>11,482</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>11,651</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>- </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(169)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(982)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Paulista Geradora de Energia</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>8,506</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>8,509</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>- </FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(3)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Company</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Investments</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Dividends</FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>distributed</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Equity in the earnings of subsidiaries</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Interest percentage</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>31, </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>December 31, </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>January to March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>January to March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>January to March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>31, </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>December</FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>31, </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Sesamm</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>12,107</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>11,633</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>474</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>649</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>36%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>36%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>&#193;guas de Andradina </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5,343</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>4,558</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(172)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>957</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>111</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>30%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>30%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>&#193;guas de Castilho</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,270</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,035</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(55)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>290</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>52</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>30%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>30%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Saneaqua Mairinque</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>946</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,068</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(58)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(64)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>125</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>30%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>30%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Attend Ambiental</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,902</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,388</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>514</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>658</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>45%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>45%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Aquapolo Ambiental</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5,626</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5,709</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(83)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(481)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>49%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>49%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Paulista Geradora de Energia</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2,126</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2,127</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(1)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>25%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>25%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>29,320</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>27,518</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(285)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2,087</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,114</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Other investments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>587</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>587</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Overall total </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>29,907</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>28,105</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0cm 0cm 0cm 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>12</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Investment properties</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 1.3pt 21.2pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, the balance of &#8220;investment properties&#8221; is R$56,940 (R$56,957 as of December 31, 2015). As of March </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>31, 2016 and December 31, 2015, the market value of these properties was approximately R$392,000. In the three-month period ended March 31, 2015, there were no changes in the balance of investment properties</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 1.3pt 21.2pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="52%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Write-offs and disposals</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Depreciation</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>March 31, </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2016</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0cm" vAlign=bottom width="52%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="52%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Investment property</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>56,957</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>9</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(26)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>56,940</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="52%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>56,957</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>9</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(26)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 12pt; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>56,940</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 1.3pt 21.2pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.3pt 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -44.45pt; MARGIN: 0cm 0cm 0pt 9pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible assets</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt 36pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial position balances</FONT></B></P>

<P style="MARGIN: 0.3pt 0cm 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="36%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="36%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Cost</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Accumulated amortization</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Net</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Cost</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Accumulated amortization</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Net</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Intangible assets arising from:</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Agreements &#8211; equity value</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>8,942,361</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(1,610,600)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>7,331,761</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>8,862,581</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(1,574,951)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>7,287,630</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Agreements &#8211; economic value </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,829,990</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(483,698)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,346,292</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,819,219</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(466,199)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,353,020</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Program contracts </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>8,748,383</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(2,441,421)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>6,306,962</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>8,660,552</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(2,371,977)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>6,288,575</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Program contracts &#8211; commitments </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>986,086</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(143,763)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>842,323</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>986,086</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(135,556)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>850,530</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Services contracts &#8211; S&#227;o Paulo</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>15,208,909</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(2,526,727)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>12,682,182</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>14,767,591</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(2,400,574)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>12,367,017</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Software license</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>501,187</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(116,908)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>384,279</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>474,294</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(107,440)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>366,854</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>36,216,916</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(7,323,117)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>28,893,799</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>35,570,323</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(7,056,697)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>28,513,626</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Additions</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Provision/ reversal of allowance for losses</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Transfers</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Write-offs and disposals</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Amortization</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Intangible assets arising from: </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Agreements &#8211; equity value</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>7,287,630</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>79,042</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>1,061</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>20</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(3)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(35,989)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>7,331,761</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Agreements &#8211;economic value</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>1,353,020</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>10,778</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>3</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(17,509)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,346,292</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Program contracts </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>6,288,575</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>89,263</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(1,471)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>944</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(79)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(70,270)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>6,306,962</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Program contracts &#8211; commitments </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>850,530</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(8,207)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>842,323</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Services contracts &#8211; S&#227;o Paulo </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>12,367,017</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>446,503</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>1,680</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(31)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(238)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(132,749)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>12,682,182</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Software license</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>366,854</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>26,894</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(9,469)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>384,279</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Total </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>28,513,626</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>652,480</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>1,270</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>936</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(320)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>(274,193)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>28,893,799</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>December 31, 2014</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Additions</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Provision/ reversal of allowance for losses</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Transfers</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Write-offs and disposals</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Amortization</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>March 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Intangible assets arising from: </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Agreements &#8211; equity value</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>7,369,271</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>106,854</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>231</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(78)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(45,822)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>7,430,456</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Agreements &#8211;economic value</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,281,260</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>20,758</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>19</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(11)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(14,759)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,287,267</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Program contracts </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>5,379,153</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>135,716</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>711</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(69)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(43,099)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>5,472,412</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Program contracts&#8211; commitments </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>702,909</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(6,735)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>696,174</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Services contracts &#8211; S&#227;o Paulo </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>10,986,386</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>281,980</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>8,615</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(5,563)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(85)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(124,470)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>11,146,863</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Software license</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>260,547</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>25,836</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(10,366)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>276,017</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Total </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>25,979,526</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>571,144</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>8,615</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(4,602)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(243)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(245,251)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>26,309,189</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.1pt 0cm 0pt"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 4.15pt 52.95pt 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The operations in the municipality of Santa Isabel started in January 2016</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Construction services</FONT></B></H4>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="36%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Water supply</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Sewage services</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total </FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>429,067</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>196,213</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>625,280</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Construction cost incurred</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>419,594</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>192,792</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>612,386</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Margin</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>9,473</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,421</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>12,894</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="36%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Water supply</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Sewage services</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total </FONT></B></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>304,504</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>283,962</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>588,466</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Construction cost incurred</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>298,596</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>277,780</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>576,376</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Margin</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>5,908</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>6,182</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.65pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>12,090</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.3pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(d)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>General information</FONT></B></H4>

<P style="MARGIN: 0.05pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>During the period ended March 31, 2016 there were no relevant changes in the criteria to account for intangible assets and types of contracts. See further </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>information</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> in Note 14 (d) to the Annual Financial Statements as of December 31, 2015.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has obligations recorded in &#8220;Program Contract&#8211; Commitments&#8221; in current liabilities in the amount of R$209,875 and R$228,659 as of March 31, 2016 and December 31, 2015, respectively, and noncurrent liabilities in the amount of R$87,703 and R$92,055 as of March 31, 2016 and December 31, 2015, respectively</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(e)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Capitalization of interest and other finance charges</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.25pt 0pt 44.95pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>From January to March 2016, the Company capitalized interest and inflation adjustment in concession intangible assets totaling R$123,717, including the S&#227;o Louren&#231;o Production System and Leases (R$72,472 from January to March 2015), during the construction period</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(f)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Construction margin</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.25pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company acts as a primary </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>responsible</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> to construct and install the infrastructure related to the concession, using own efforts or hiring outsourcing services, receiving the risks and benefits. </FONT></FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.25pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.25pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.25pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As a consequence, the Company recognizes revenue from construction service corresponding to the cost of construction increased by margin. Generally, the constructions related to the concessions are performed by third parties, in such case, the margin of the Company is lower, normally, to cover eventual administration costs, and the responsibility of the primary risk. As of March 31, 2016 and 2015 </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>the</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> margin was 2.3%.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.25pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Construction margin for the period ended March 31, 2016 and 2015 was R$12,894 and R$12,090, respectively</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0cm 0cm 0cm 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(g)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Expropriations</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As a result of the construction of priority </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>projects</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> related to water and sewage systems, the Company was required to expropriate third-parties' properties, and the owners of these properties will be compensated either amicably or through courts.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.15pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The costs of these expropriations are recorded as concession intangible assets after the transaction is concluded. From January to March 2016, the total amount related to expropriations was R$2,216 (R$6,762 from January to March 2016)</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0cm 0cm 0cm 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(h)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Public-Private Partnership</FONT></B><B><FONT style="LETTER-SPACING: -1.5pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>-</FONT></B><B><FONT style="LETTER-SPACING: -1.5pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>PPP</FONT></B></H4>

<P style="MARGIN: 0.35pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>SABESP carries out operations related to the PPPs mentioned below. These operations and their respective obligations and guarantees are supported by agreements executed according to Law 11,079/04.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Alto Tiet&#234; Production System</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016 and December 31, 2015, the amounts recognized as intangible asset related to PPP were R$390,482 and R$393,275, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>In the first quarter of 2016, a discount rate of 8.06% p.a. was used to calculate the adjustment to present value of the agreement. The obligations assumed by the Company as of March 31, 2016 and December 31, 2015 are shown in the table below.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>On a monthly basis, SABESP assigns funds from tariffs to the SPE CAB Sistema Produtor Alto Tiet&#234; S/A, in the amount of R$9,164, corresponding to the monthly remuneration. This amount is annually adjusted by the IPC &#8211; FIPE and is recorded in a restricted account, pursuant to the contractual operating proceeding. Should SABESP comply with its monthly obligations with the SPE, the funds from the restricted account will released.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The guarantee has been effective since the beginning of the operation and will be valid until the conclusion, termination, intervention, annulment or caducity of the Administrative Concession, or other extinction events provided for in the Concession Agreement or in the law applicable to administrative concessions, including in the event of bankruptcy or extinction of the SPE.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>S&#227;o Louren&#231;o Production System</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016 and December 31, 2015, the amounts recognized in intangible assets related to the PPP were R$907,101 and R$699,335, respectively. As of March 31, 2016, a discount rate of 7.80% p.a. was used to calculate the adjustment to present value of this agreement. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The obligations assumed by the </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Company</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> as of March 31, 2016 and December 31, 2015 are shown in the table below, and the increase in liabilities and intangible assets was due to the progress of the work in 2016.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Payment is scheduled to start in </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>January</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> 2018, four (4) months after the beginning of assisted operations.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>After the beginning of the operations, every month SABESP will transfer to the SPE Sistema Produtor S&#227;o Louren&#231;o S/A funds from tariffs arising from the services provided, in the amount of R$24.4 million, equivalent to the monthly remuneration plus interest and charges. The amount above will be annually </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>restated</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> by the IPC - FIPE and should be monthly recorded in a restricted account, in accordance with the operating procedures of the agreements. Should SABESP perform its monthly obligations with the SPE, the funds from the restricted </FONT></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>account will be released.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The guarantee will become effective as of the beginning of the system&#8217;s appropriate operation, duly accepted by SABESP, valid until the occurrence of any of the following events, whichever occurs first: (i) the original payment date of the last installment of interest / amortization of the principal taken out by the SPE to execute the works; (ii) the end, termination, intervention, annulment, caducity of the Administrative Concession, or other extinction events provided for in the Concession Agreement or in the law applicable to administrative concessions, including bankruptcy or extinction of the SPE</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Current liabilities</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Noncurrent liabilities</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total liabilities</FONT></B></FONT></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Current liabilities</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Noncurrent liabilities</FONT></B></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>liabilities</FONT></B></FONT></P></DIV></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Alto Tiet&#234;</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>33,806</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>310,415</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>344,221</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>33,255</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>319,076</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>352,331</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>S&#227;o Louren&#231;o</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>886,707</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>886,707</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>682,702</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>682,702</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>33,806</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,197,122</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,230,928</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>33,255</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,001,778</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,035,033</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 21.1pt 0pt 45pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 4.15pt 21.25pt 0pt 45pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Additional information is presented in Note 14 (h) to the Financial Statements for the fiscal year ended December 31, 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.3pt 0cm 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0.05pt 0cm 0pt 72.55pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Works in progress</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.1pt 0pt 45pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The amount of R$7,055 million is recorded under intangible assets as works in progress as of March 31, 2016 (R$6,596 million on December 31, 2015), and as of March 31, 2016, the major projects are located in the municipalities of S&#227;o Paulo, Praia Grande and Franca, totaling R$3,813 million (including R$907 million from PPP S&#227;o Louren&#231;o), R$282 million and R$206 million, respectively</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0cm 0cm 0cm 72.55pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(j)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Amortization of intangible assets</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.05pt 0cm 0pt 45pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The amortization average rate totaled 3.9% as of March 31, 2016 and 3.8% as of March 31, 2015</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.4pt 0cm 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0cm 0cm 0cm 72.55pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(k)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Software license of use</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 21.15pt 0pt 45pt; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The software license of use is capitalized based on the costs incurred to acquire software and make them ready for use. The project to implement an integrated business management solution (ERP system), which includes the administrative/financial module and the commercial module, is in progress</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0cm; MARGIN: 4.15pt 52.95pt 0pt 10.45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property, plant and equipment</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -27.65pt; MARGIN: 0cm 0cm 0cm 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Financial position balances</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="36%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>March 31, 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="36%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Cost</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Accumulated depreciation</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Net</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Cost</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Accumulated depreciation</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Net</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Land</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>102,708</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>102,708</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>102,708</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>102,708</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Buildings</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>79,429</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(34,311)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>45,118</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>79,257</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(33,366)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>45,891</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Equipment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>332,471</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(172,132)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>160,339</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>326,598</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(164,380)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>162,218</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Transportation equipment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>12,372</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(6,820)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5,552</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>12,169</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(6,477)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5,692</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Furniture and fixtures </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>23,628</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(10,911)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>12,717</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>18,664</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(10,246)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>8,418</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Other</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>435</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(288)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>147</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>435</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(286)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>149</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 5.65pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>551,043</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(224,462)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>326,581</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>539,831</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(214,755)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>325,076</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.15pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Additions</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Transfers</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Write-offs and disposals</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Depreciation</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>March 31, </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>2016</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Land</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>102,708</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>102,708</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Buildings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>45,891</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>171</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(944)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>45,118</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>162,218</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>12,555</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(5,891)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(23)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(8,520)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>160,339</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Transportation equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5,692</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>97</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(237)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5,552</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Furniture and fixtures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>8,418</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>254</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>4,784</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(734)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>12,717</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>149</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(2)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>147</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>325,076</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>12,906</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(936)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(28)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(10,437)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>326,581</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>December 31, 2014</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Additions</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Transfers</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Write-offs and disposals</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>Depreciation</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>March 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Land</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>100,533</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>100,533</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Buildings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>42,515</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>3,341</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(339)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>45,517</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>146,922</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>8,202</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>458</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(62)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(7,232)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>148,288</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Transportation equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>7,613</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(747)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(251)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>6,751</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Furniture and fixtures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>7,124</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>64</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1,573</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(233)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>8,519</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>138</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(23)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(2)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>113</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>304,845</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>8,402</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>4,602</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(71)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(8,057)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>309,721</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation</FONT></B></P>

<P style="MARGIN: 0cm 52.95pt 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 52.95pt 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company annually revises the depreciation rates of: buildings - 2%; equipment- 10%; transportation equipment - 10% and furniture, fixture and equipment - 6.7%. Lands are not depreciated.</FONT></P>

<P style="MARGIN: 0cm 52.95pt 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 52.95pt 0pt 45pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The depreciation average rate was 10.8% and 11.3%, as of March 31, 2016 and 2015, respectively</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV><FONT style="FONT-SIZE: 10pt" lang=EN-US>&nbsp; </FONT>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<H4 style="TEXT-INDENT: 0cm; MARGIN: 0cm 0cm 0cm 96.8pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings and Financing</FONT></B></H4>

<P style="TEXT-INDENT: 0cm; MARGIN: 0cm 0cm 0cm 96.8pt">&nbsp;</P>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>&nbsp;Borrowings and financing outstanding balance</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" width="30%" colSpan=3>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" width="30%" colSpan=3>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Financial institution</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Current</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Noncurrent</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Current</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Noncurrent</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Total</FONT></B></P></DIV></TD></TR>

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   <P style="MARGIN: 2.4pt 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Local currency</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>10th issue debentures</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>40,179</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>152,015</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>192,194</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>39,619</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>155,815</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>195,434</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>12th issue debentures </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>45,450</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>374,295</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>419,745</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>45,450</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>385,667</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>431,117</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>14th issue debentures </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>39,046</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>193,208</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>232,254</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>38,519</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>210,961</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>249,480</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>15th issue debentures </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>97,692</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>650,439</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>748,131</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>94,819</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>728,529</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>823,348</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>17th issue debentures </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>140,144</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>879,202</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,019,346</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>140,144</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>997,259</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,137,403</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>18th issue debentures </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>7,945</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>246,489</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>254,434</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>3,167</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>247,683</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>250,850</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>19th issue debentures </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>198,756</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>198,756</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>498,587</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>498,587</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>20th issue debentures </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>494,618</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>494,618</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>494,500</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>494,500</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Brazilian Federal Savings Bank</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>51,502</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,016,475</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,067,977</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>49,491</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,014,850</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,064,341</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Brazilian Development Bank - BNDES BAIXADA SANTISTA</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>16,426</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>45,172</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>61,598</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>16,368</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>49,104</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>65,472</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Brazilian Development Bank - BNDES PAC</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>10,370</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>64,663</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>75,033</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>10,329</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>66,984</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>77,313</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Brazilian Development Bank - BNDES PAC II 9751</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>4,242</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>29,880</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>34,122</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>4,264</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>31,206</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>35,470</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Brazilian Development Bank - BNDES PAC II 9752</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>2,316</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>23,165</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>25,481</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>2,308</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>23,660</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>25,968</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Brazilian Development Bank - BNDES ONDA LIMPA</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>22,427</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>179,136</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>201,563</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>22,347</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>184,082</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>206,429</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Brazilian Development Bank - BNDES TIET&#202; III</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>23,717</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>260,680</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>284,397</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>17,725</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>265,663</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>283,388</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Leases</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>12,237</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>528,213</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>540,450</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>11,955</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>522,940</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>534,895</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Other</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>672</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>11,147</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>11,819</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>649</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,270</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,919</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Interest and charges</FONT></P></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>70,272</FONT></P></DIV></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>70,272</FONT></P></DIV></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>127,862</FONT></P></DIV></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>127,862</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 1pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Total in local currency</FONT></B></P></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>584,637</FONT></P></DIV></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>5,347,553</FONT></P></DIV></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>5,932,190</FONT></P></DIV></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>625,016</FONT></P></DIV></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>5,878,760</FONT></P></DIV></TD>

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

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>6,503,776</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.35pt 0cm 0pt 31.5pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B></DIV></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P><FONT lang=PT-BR><BR clear=all></FONT>

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<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>&nbsp;</FONT><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Borrowings and financing outstanding balance</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" width="30%" colSpan=3>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0cm" width="30%" colSpan=3>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Financial institution</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Current</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Noncurrent</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Current</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Noncurrent</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Total</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 2.4pt 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Foreign currency</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Inter-American Development Bank - BID 713 &#8211; US$50,195 thousand (US$50,195 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>89,320</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>89,320</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>178,640</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>98,001</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>98,001</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>196,002</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Inter-American Development Bank - BID 896 &#8211; US$2,778 thousand (US$2,778 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>9,887</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>9,887</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>10,848</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>10,848</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Inter-American Development Bank - BID 1212 &#8211; US$97,642 thousand (US$102,781 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>36,579</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>310,918</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>347,497</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>40,134</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>361,204</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>401,338</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Inter-American Development Bank - BID 2202 &#8211; US$409,779 thousand (US$405,072 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>38,378</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,408,228</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,446,606</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,572,181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,572,181</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>International Bank of Reconstruction and Development -BIRD &#8211; US$61,158 thousand (US$61,158 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>217,314</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>217,314</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>238,464</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>238,464</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Eurobonds &#8211; US$140,000 thousand (US$140,000 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>498,172</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>498,172</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>546,570</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>546,570</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Eurobonds &#8211; US$350,000 thousand (US$350,000 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,241,710</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,241,710</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,362,570</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,362,570</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>JICA 15 &#8211; &#165; 15,557,805 thousand (&#165; 16,134,020 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>36,486</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>456,074</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>492,560</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>37,373</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>485,853</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>523,226</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>JICA 18 &#8211; &#165; 13,988,160 thousand (&#165; 14,506,240 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>32,805</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>409,779</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>442,584</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>33,603</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>436,548</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>470,151</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>JICA 17 &#8211; &#165; 1,565,564 thousand (&#165; 1,565,564 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>49,003</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>49,003</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>50,201</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>50,201</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>JICA 19 &#8211; &#165; 25,840,338 thousand (&#165; 21,701,103 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>816,142</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>816,142</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>701,978</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>701,978</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>BID 1983AB &#8211; US$130,289 thousand (US$130,289 thousand in December 2015)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>85,208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>373,103</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>458,311</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>93,490</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>409,578</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>503,068</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Interest and charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>62,560</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>62,560</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>41,227</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>41,227</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Total in foreign currency</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>889,395</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>5,371,591</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>6,260,986</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>901,246</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>5,716,578</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>6,617,824</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="40%">

   <P style="MARGIN: 2.4pt 0cm"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Total borrowings and financing</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,474,032</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>10,719,144</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>12,193,176</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>1,526,262</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>11,595,338</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>13,121,600</FONT></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="100%" colSpan=7 noWrap>

   <P style="MARGIN: 2.4pt 0cm"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></I>&nbsp;</P>

   <P style="MARGIN: 2.4pt 0cm"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></I>&nbsp;</P>

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Exchange rate as of March 31, 2016 US$3.5589; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>&#165;</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia> 0.031660 (US$ 3.9048; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>&#165;</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia> 0.03243 as of December 31, 2015).</FONT></FONT></P>

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, the Company did not record balances of borrowings and financing raised during the year to mature within 12 months.</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<DIV align=left>&nbsp;</DIV><FONT style="FONT-SIZE: 10pt" lang=EN-US>&nbsp; </FONT><FONT lang=PT-BR><BR clear=all></FONT>

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<TR style="HEIGHT: 17pt">

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 0cm; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Local currency</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Guarantees</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Maturity</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Annual interest rates</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Monetary restatement</FONT></B></FONT></P></DIV></TD></TR>

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   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>10th issue debentures</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2020</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>TJLP +1.92% (Series 1 and 3) and 9.53% (Series 2) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>IPCA (series 2)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%" noWrap>

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>12th issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>TR + 9.5% </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%" noWrap>

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>14<SUP>th</SUP> issue debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2022</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>TJLP +1.92% (Series 1 and 3) and 9.19% (Series 2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>IPCA (series 2)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%" noWrap>

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>15th issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>CDI + 0.99% (Series 1) and 6.2% (Series 2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>IPCA (series 2)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%" noWrap>

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>17th issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2023</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>CDI +0.75 (Series 1) and 4.5% (Series 2) and+4.75% (Series 3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>IPCA (series 2 and 3)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%" noWrap>

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>18th issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>TJLP + 1.92 % (Series 1 and 3) and 8.25% (Series 2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>IPCA (series 2)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%" noWrap>

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>19th issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>CDI + 0.80% to 1.08%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%" noWrap>

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>20th issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>CDI + 3.80%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%" noWrap>

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Brazilian Federal Savings Bank</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2016/2037</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>5% to 9.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>TR</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="TEXT-INDENT: -10.7pt; MARGIN: 4.8pt 0cm 4.8pt 10.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Brazilian Development Bank - BNDES BAIXADA SANTISTA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2.5% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Brazilian Development Bank - BNDES PAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2023</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2.15% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Brazilian Development Bank - BNDES PAC II 9751</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2027</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1.72%+TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Brazilian Development Bank - BNDES PAC II 9752</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2027</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1.72%+TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Brazilian Development Bank - BNDES ONDA LIMPA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1.92% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Brazilian Development Bank - BNDES TIET&#202; III</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2028</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1.66% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Leases</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>7.73% to 10.12% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>IPC</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Own funds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2018/2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=Georgia>TJLP + 1.66% (Finep) and 12% (Presidente Prudente)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>TR</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US>&nbsp; </FONT></B><FONT lang=PT-BR><BR clear=all></FONT>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="46%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Foreign currency</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Guarantees</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Maturity</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Annual interest rates</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Exchange rate changes</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>Inter-American Development Bank - BID 713 &#8211; US$50,195 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Federal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>3.99% (*) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Inter-American Development Bank - BID 896 - </FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>US$2,778 thousand </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Federal Government </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>3.00%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Inter-American Development Bank - BID 1212 -</FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia> US$97,642 thousand </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Federal Government </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>2.50% (*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Inter-American Development Bank - BID 2202 -</FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia> US$409,779 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Federal Government </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1.85% (*) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%" noWrap>

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>International Bank for Reconstruction and Development - BIRD</FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia> US$61.158 mil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Federal Government </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2034</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>1.08% (*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Eurobonds &#8211; US$140,000 </FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>thousand</FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>7.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Eurobonds &#8211; US$350,000 </FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>thousand</FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2020</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>6.25%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>JICA 15 </FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>&#8211; &#165;15,557,805 thousand </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Federal Government </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1.8% and 2.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Yen </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>JICA 18</FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>&#8211; &#165; 13,988.160 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Federal Government </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1.8% and 2.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Yen </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>JICA 17</FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>&#8211; &#165;1,565,564 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Federal Government</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2035</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1.2% and 0.01% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Yen </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>JICA 19</FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>&#8211; &#165;25,840,338 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Federal Government </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2037</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1.7% and 0.01% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Yen</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" width="46%">

   <P style="MARGIN: 4.8pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>BID 1983AB </FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=Georgia>&#8211; US$130,289 thousand</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-&nbsp;</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2023</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Libor + 1.88% to 2.38%</FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia> (*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0cm" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>US$</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P><B><FONT style="FONT-SIZE: 9pt" lang=EN-US>&nbsp; </FONT></B><FONT lang=PT-BR><BR clear=all></FONT>

<P style="MARGIN: 0cm 0cm 0pt 96.8pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(*)</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Rates comprising LIBOR + contractually defined spread</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<P style="MARGIN: 0.45pt 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P><FONT lang=PT-BR><BR clear=all></FONT>

<P style="TEXT-INDENT: -13.85pt; MARGIN: 0cm 0cm 0cm 145.15pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Payment schedule &#8211; accounting balances as of March 31, 2016</FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>2018</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>2019</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>2020</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>2021</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>2022 to 2038</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>TOTAL</FONT></B></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><B><I><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>LOCAL CURRENCY</FONT></I></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Debentures</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>89,578</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>592,766</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>876,199</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>978,928</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>406,096</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>193,149</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>422,762</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>3,559,478</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Brazilian Federal Savings Bank</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>38,121</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>54,972</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>58,638</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>60,347</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>62,357</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>65,497</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>728,045</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,067,977</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>BNDES</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>59,624</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>79,498</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>79,498</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>79,498</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>61,757</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>61,318</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>261,001</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>682,194</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Leasing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>8,300</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>21,978</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>23,285</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>24,706</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>26,250</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>27,929</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>408,002</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>540,450</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>496</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>735</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,424</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,325</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,325</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,325</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>5,189</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>11,819</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Interest and other charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>58,230</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>12,042</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>70,272</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>TOTAL IN LOCAL CURRENCY</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>254,349</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>761,991</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,039,044</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,144,804</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>557,785</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>349,218</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,824,999</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>5,932,190</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><B><I><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia>FOREIGN CURRENCY</FONT></I></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>BID</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>117,496</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>202,654</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>113,335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>113,335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>113,335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>113,335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,209,140</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,982,630</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>BIRD</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>7,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>14,510</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>14,510</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>181,039</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>217,314</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Eurobonds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>498,172</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,241,710</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,739,882</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>JICA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>34,645</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>70,630</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>71,970</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>116,192</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>116,192</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>116,192</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,274,468</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,800,289</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>BID 1983AB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>85,208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>85,208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>84,322</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>62,965</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>60,859</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>27,376</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>52,373</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>458,311</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Interest and other charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>62,560</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>62,560</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>TOTAL IN FOREIGN CURRENCY</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>798,081</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>358,492</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>269,627</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>299,747</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,546,606</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>271,413</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2,717,020</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>6,260,986</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0cm"><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Overall Total </FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,052,430</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,120,483</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,308,671</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,444,551</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2,104,391</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>620,631</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>4,542,019</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>12,193,176</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.65pt; MARGIN: 4.15pt 0cm 0pt 86.35pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Main events in the three-month period ended March 31, 2016</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0.05pt 0cm 0pt 100.2pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Debentures</FONT></B></P>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 30, 2016, the Company partially amortized the outstanding debentures of the 19th Issue upon payment of 60% of the nominal unit value of the debentures, totaling R$300,000, plus remuneration and charges due until the date of partial amortization, in the amount of R$11,588</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 100.2pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>JICA</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 72.6pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>In 2016, funding totaled R$137,167, referring to agreement BZ-P19 (JICA 19</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P>

<P style="MARGIN: 0.4pt 0cm 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 100.2pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Exchange rate changes</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.7pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The US dollar rate exchange decreased 8.9%, from R$3.9048 as of December 31, 2015 to R$3.5589 as of March 31, 2016, decreasing debt by R$429,537. In the same period, the Yen decreased 2.4%, from R$0.03243 as of December 31, 2015 to R$0.03166 as of March 31, 2016, decreasing debt by R$43,589</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(ii)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Covenants</FONT></B></P>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><I><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.7pt 0pt 72.55pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, the Company had met the requirements set forth by its borrowings and financing agreements.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.7pt 0pt 72.55pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Regarding the agreements entered into with the BNDES, the Adjusted Net Debt/Adjusted EBITDA ratios calculated by the Company were 3.02, 2.84, 3.28 and 3.06 as of March 31, 2016, December 31, 2015, September 30, 2015 and June 30, 2015, respectively, remaining above the target of 3.00, but within the range established for the index, which is higher than 3.00 and equal to or less than 3.80. This occurrence observed in two quarters, consecutive or not, automatically increases the portion of the monthly amount of receivables, offered as collateral, which has to be recorded in a restricted account linked to the BNDES, of 20%, to R$213.5 million per month</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.65pt; MARGIN: 0cm 0cm 0cm 86.35pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(iii)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Borrowings and financing &#8211; Credit Limited</FONT></B></H4>

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<TR style="HEIGHT: 17pt">

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 5.65pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Agent</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>March 31, 2016</FONT></B></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="76%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 5.65pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=center><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=center><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(in millions of reais (*))</FONT></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="76%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 5.65pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Brazilian Federal Savings Bank</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,896</FONT></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="76%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 5.65pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Brazilian Development Bank &#8211; BNDES</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>2,080</FONT></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="76%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 5.65pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Inter-American Development Bank &#8211; BID</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>677</FONT></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="76%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 5.65pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Japan International Cooperation Agency &#8211; JICA</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>392</FONT></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="76%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 5.65pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>International Bank for Reconstruction and Development &#8211; IBRD</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>138</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="76%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 5.65pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Others</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>38</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="76%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 5.65pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>5,221</FONT></B></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.1pt 0cm 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.1pt 0cm 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 111%; MARGIN: 4.15pt 68.65pt 0pt 72.6pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(*) </FONT><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Exchange rate as of March 31, 2016 (US$1.00 = R$3.5589; &#165;&nbsp;1.00 = R$0.03166</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P><FONT style="LINE-HEIGHT: 111%" face=georgia></FONT></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<P style="LINE-HEIGHT: 101%; MARGIN: 0cm 52.95pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 101%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>SABESP, in order to comply with </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>its</FONT><FONT style="LINE-HEIGHT: 101%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> Capex plan relies on a fund-raising plan.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 101%; MARGIN: 0cm 52.95pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 101%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Financing resources contracted </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>have</FONT><FONT style="LINE-HEIGHT: 101%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> specific purposes, which have been released for the execution of their respective investments, according to the progress of the works.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 101%; MARGIN: 0cm 52.95pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 101%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Additional information on borrowings and financing is presented in Note 16 to the Annual Financial Statements as of December 31, 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.45pt 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0cm; MARGIN: 0cm 52.95pt 0pt 24.2pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taxes payable</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Current assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Recoverable taxes</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Income tax and social contribution</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>68,978</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Withholding income tax (IRRF) on financial investments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>10,508</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>4,914</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other federal taxes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>5,148</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>3,661</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other municipal taxes</FONT></FONT></P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>275</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>275</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>15,931</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>77,828</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 101%; MARGIN: 0cm 52.95pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 101%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The reduction in </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>recoverable</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia> taxes is mainly due to decrease in &#8220;income tax and social contribution&#8221; item, which was offset by these taxes.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 58.5pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current liabilities</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -27.6pt; MARGIN: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Taxes and contributions payable</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Cofins and Pasep</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>42,518</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>40,505</FONT></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Income tax and social contribution</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>216,635</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>INSS (Social Security contribution)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>33,029</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>33,836</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>IRRF (withholding income tax)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>157</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>11,126</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Other</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>22,491</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>21,828</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>314,830</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>107,295</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 52.95pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The increase in taxes payable of current liabilities was mainly due to the calculation of amounts payable of Income Tax and Social Contribution resulting from the taxable income recorded in the quarter</FONT><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></B></P><FONT style="LINE-HEIGHT: 111%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></DIV></DIV>

<P style="LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0cm 0cm 6pt 58.5pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0cm 0cm 6pt 58.5pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0cm 0cm 6pt 58.5pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred taxes and contributions</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0cm 90pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(a)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Financial position balances</FONT></B></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Deferred income tax assets </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7.1pt; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>515,264</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7.1pt; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>480,378</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Pension obligations &#8211; G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>265,517</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>256,808</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Donations of underlying assets on concession agreements</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>53,352</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>53,206</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Allowance for loan losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>224,587</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>213,171</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Tax losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>58,829</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>129,280</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>121,550</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total deferred tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,188,000</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,183,942</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Deferred income tax liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Temporary difference on concession intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(516,776)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(524,495)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Capitalization of borrowing costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(320,329)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(309,648)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Profit on supply to governmental entities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(83,578)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(81,055)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Actuarial gain/loss &#8211; G1 Plan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(33,726)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(33,726)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Construction margin</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(94,097)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(94,921)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Borrowing costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(12,297)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(11,855)</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total deferred tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,060,803)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,055,700)</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Deferred tax asset, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>127,197</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>128,242</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 54pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(b) Changes</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Deferred income tax assets</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Net </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>change </FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>March 31, </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>2016</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Provisions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>480,378</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>34,886</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -7.1pt; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>515,264</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Pension obligations - G1</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>256,808</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>8,709</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>265,517</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Donations of underlying assets on concession agreements</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>53,206</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>146</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>53,352</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Credit losses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>213,171</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>11,416</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>224,587</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Tax losses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>58,829</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(58,829)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Other</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>121,550</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>7,730</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>129,280</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,183,942</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>4,058</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,188,000</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Deferred income tax liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Temporary difference on concession intangible asset</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(524,495)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>7,719</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(516,776)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Capitalization of borrowing costs</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(309,648)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(10,681)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(320,329)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Profit on supply to governmental entities</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(81,055)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(2,523)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(83,578)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Actuarial gain/loss &#8211; G1</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(33,726)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(33,726)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Construction margin</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(94,921)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>824</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(94,097)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Borrowing costs</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(11,855)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(442)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(12,297)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,055,700)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(5,103)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,060,803)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Deferred tax asset, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>128,242</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,045)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>127,197</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

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<P style="LINE-HEIGHT: 5%; MARGIN: 0cm 0cm 0pt"></P>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 53 de 72</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

   <TD>

   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<DIV align=left>&nbsp;</DIV>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Deferred income tax assets</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>December 31,</FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>2014</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Net</FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Change </FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>March 31, </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>524,728</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(34,933)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -7.1pt; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>489,795</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Pension obligations &#8211; G0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>85,271</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>85,271</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Pension obligations &#8211; G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>229,266</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>4,727</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>233,993</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Donations of underlying assets on concession agreements</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>45,742</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>1,840</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>47,582</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Credit losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>222,587</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>7,769</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>230,356</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Tax losses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>186,313</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>186,313</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Other</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>112,566</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>5,622</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>118,188</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>1,220,160</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>171,338</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>1,391,498</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Deferred income tax liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Temporary difference on concession intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(559,411)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>7,792</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(551,619)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Capitalization of borrowing costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(253,581)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(11,839)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(265,420)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Profit on supply to governmental entities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(87,092)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>48</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(87,044)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Actuarial gain/loss &#8211;G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(2,514)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(2,514)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(108,084)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>337</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(107,747)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(1,010,682)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(3,662)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(1,014,344)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Deferred tax asset, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>209,478</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>167,676</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>377,154</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 54pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 54pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 54pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(c) Reconciliation of the effective tax rate</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>The amounts recorded as income tax and social contribution expenses in the financial statements are reconciled to the statutory rates, as shown below:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 0cm 2.85pt 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Profit before income taxes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>968,823</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>150,502</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Statutory rate</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>34%</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>34%</FONT></FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Estimated expense at statutory rate</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(329,400)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(51,171)</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Tax benefit of interest on capital</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Permanent differences</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 15pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Provision &#8211; Law 4,819/58 (i)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(17,108)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(14,654)</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 15pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Donations</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(92)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(73)</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 15pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>GESP Agreement</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>236,736</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 15pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Other differences</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>6,566</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(3,162)</FONT></FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Income tax and social contribution</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(340,034)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>167,676</FONT></FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Current income tax and social contribution</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(338,989)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Deferred income tax and social contribution</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,045)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>167,676</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Effective rate</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>35%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>111%</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -36pt; MARGIN: 0cm 0cm 0cm 72pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Permanent difference related to the provision for actuarial liability (Note 19 (b) (iii)).</FONT></P>

<P style="TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 72.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 0cm 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>18</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Provisions</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -27.65pt; MARGIN: 0cm 0cm 0cm 86.35pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Lawsuits with probable likelihood of loss</FONT></B></P>

<P style="MARGIN: 0.35pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -15.5pt; MARGIN: 0cm 0cm 0cm 101.8pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(I)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Financial position balances</FONT></B></P>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 59.8pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The Company is party to a number of claims and legal proceedings arising in the normal course of business, including civil, tax, labor and environmental matters. Management, recognized provisions at an amount considered sufficient to cover probable losses. These provisions, net of escrow deposits are as follows</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Provisions</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Escrow deposits</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>31, 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Provisions</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Escrow deposits</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Customer claims (i)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>597,555</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(105,060)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>492,495</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>561,061</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(97,711)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>463,350</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Supplier claims (ii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>311,558</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(240,777)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>70,781</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>296,660</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(217,625)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>79,035</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Other civil claims (iii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>132,785</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(12,613)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>120,172</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>124,833</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(10,681)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>114,152</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Tax claims (iv)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>63,968</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(700)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>63,268</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>62,812</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(677)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>62,135</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Labor claims (v)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>281,014</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(3,148)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>277,866</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>283,991</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(3,073)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>280,918</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Environmental claims (vi)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>128,604</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(958)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>127,646</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>83,520</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(896)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>82,624</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,515,484</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(363,256)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,152,228</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,412,877</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(330,663)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,082,214</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Current</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>658,499</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>658,499</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>631,890</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>631,890</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="26%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Noncurrent</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>856,985</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(363,256)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>493,729</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>780,987</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(330,663)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>450,324</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 1cm; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(II) Changes </FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>December 31, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Additional provisions</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Interest and inflation adjustment</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Use of the accrual</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Amounts not used</FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(reversal)</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>31, 2016</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Customer claims (i)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>561,061</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>18,788</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>34,563</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(8,579)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(8,278)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>597,555</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Supplier claims (ii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>296,660</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>3,545</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>22,519</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(11,141)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(25)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>311,558</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Other civil claims (iii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>124,833</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>4,018</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>6,594</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(598)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(2,062)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>132,785</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Tax claims (iv)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>62,812</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>367</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>2,753</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(263)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,701)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>63,968</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Labor claims (v)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>283,991</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>7,988</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>7,749</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(9,664)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(9,050)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>281,014</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Environmental claims (vi)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>83,520</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>36,385</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>12,690</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(3,991)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>128,604</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Subtotal</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,412,877</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>71,091</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>86,868</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(30,245)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(25,107)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,515,484</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Escrow deposits</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(330,663)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(22,089)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(11,673)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>47</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,122</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(363,256)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,082,214</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>49,002</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>75,195</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(30,198)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(23,985)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,152,228</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 115%" face=georgia></FONT>

<P style="LINE-HEIGHT: 115%; MARGIN: 0cm 0cm 10pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>December 31, 2014</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Additional provisions</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Interest and inflation adjustment</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Use of the accrual</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>Amounts not used</FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>(reversal)</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia>31, 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Customer claims (i)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>638,637</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>9,893</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>27,167</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(14,278)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(69,996)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>591,423</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Supplier claims (ii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>260,854</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>583</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>8,869</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,123)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(232)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>268,951</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Other civil claims (iii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>126,403</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>4,093</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>5,610</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(6,251)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(8,468)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>121,387</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Tax claims (iv)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>55,554</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>730</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>2,426</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(212)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(1,354)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>57,144</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Labor claims (v)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>235,466</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>11,872</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>4,962</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(7,124)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(29,211)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>215,965</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Environmental claims (vi)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>226,404</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>5,342</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>6,845</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(52,889)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>185,702</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Subtotal</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,543,318</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>32,513</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>55,879</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(28,988)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(162,150)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,440,572</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Escrow deposit</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(322,971)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(7,080)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(11,157)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>3,987</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>391</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(336,830)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="28%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,220,347</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>25,433</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>44,722</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(25,001)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(161,759)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,103,742</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Explanation on the nature of main classes of lawsuits</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -26.2pt; MARGIN: 0cm 0cm 0cm 112.5pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Customer claims</FONT></B></P>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.8pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Approximately 1,150 lawsuits were filed by commercial customers, which claim that their tariffs should correspond to other consumer categories, and 715 lawsuits which claim a reduction in the sewage tariff due to losses in the system, consequently requesting the refund of amounts charged by the Company and 55 lawsuits where customers plead the reduction in tariff under the category as &#8220;Social Welfare Entity&#8221;. The Company was granted both favorable and unfavorable final decisions at several court levels and recognized provisions when the chances of losses are probable</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.7pt; MARGIN: 0cm 0cm 0cm 114pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(ii)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Supplier claims</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Suppliers&#8217; claims include lawsuits filed by some suppliers alleging underpayment of monetary restatements, withholding of amounts related to the understated inflation rates deriving from Real economic plan, and the economic and financial imbalance of the agreements. These lawsuits are in progress at different courts and a provision is recognized when the chances of losses are probable</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.7pt; MARGIN: 0cm 0cm 0cm 114pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(iii)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Civil claims</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>These mainly refer to indemnities for property damage, pain and suffering, and loss of profits allegedly caused to third parties, filed at different court levels, dully accrued when classified as probable losses</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.45pt 0cm 0pt"><FONT style="FONT-SIZE: 13pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.7pt; MARGIN: 4.15pt 0cm 0pt 114pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(iv)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Tax claims</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 111%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Tax claims refers mainly to issues related to tax collections challenged due to differences in the interpretation of legislation by the Company's management, accrued when classified as probable loss</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.3pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.7pt; MARGIN: 0.05pt 0cm 0pt 114pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(v)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Labor claims</FONT></B></H4>

<P style="MARGIN: 0.35pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The Company is a party to labor lawsuits, involving issues such as overtime, shift schedule, health hazard premium and hazardous duty premium, prior notice, change of function, salary equalization, outsourcing and other. Part of the amount involved is in provisional or final execution at various court levels, and this is classified as of probable loss and accordingly, accrued</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<H4 style="TEXT-INDENT: -27.7pt; MARGIN: 0.05pt 0cm 0pt 114pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

<H4 style="TEXT-INDENT: -27.7pt; MARGIN: 0.05pt 0cm 0pt 114pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(vi)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Environmental claims</FONT></B></H4>

<P style="MARGIN: 0.35pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.7pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Environmental claims refer to several administrative proceedings and lawsuits filed by government entities, including Companhia de Tecnologia de Saneamento Ambiental &#8211; Cetesb, Public Prosecution Office of the State of S&#227;o Paulo and others, that aim affirmative and negative covenants and penalty is estimated due to failure to comply in addition to the imposition of indemnity due to environmental damages allegedly caused by the Company. The amounts accrued represent the best estimate of the Company at this moment, however, may differ from the amount to be disbursed as indemnity to alleged damages, in view of the current stage of referred proceedings</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Lawsuits with possible likelihood of loss</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 101%; MARGIN: 0cm 59.6pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 101%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The Company is party to lawsuits and administrative proceedings relating to environmental, tax, civil and labor claims, which are assessed by Management whose chances of loss are possible and are not recorded. Liability contingencies classified as possible loss represent the amount of R$5,414,900 as of March 31, 2016 (R$5,410,500 as of December 2015)</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.25pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(d)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Guarantee insurance for escrow deposit</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 111%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>During the second quarter of 2015, the Company contracted guarantee insurance for escrow deposit totaling R$500 million. Such insurance will be used in legal claims where instead of making immediate cash disbursement by the Company, such insurance is used until the conclusion of these proceedings or up to three-year effectiveness term of the agreement.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 111%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>In the first quarter of 2016, the Company </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>used</FONT><FONT style="LINE-HEIGHT: 111%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia> R$7,150 of the total contracted amount</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Additional information on provisions and contingencies is presented in Note 19 to the Annual Financial Statements as of December 31, 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 0cm 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>19</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Employees benefits</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Health benefit plan</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 52.95pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The health benefit plan is managed by Sabesprev and consists of optional, free choice, health plans sponsored by contributions of SABESP and the active participants, as follows</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 52.95pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Company: 10.0% on average, of gross payroll</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>;</FONT></P>

<P style="MARGIN: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 111%; TEXT-INDENT: -13.9pt; MARGIN: 0cm 59.75pt 0pt 72.6pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Participating employees: 3.21% of base salary and premiums, equivalent to 2.6% of payroll, on average</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 58.5pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension plan benefits</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Amounts recorded in the balance sheet</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Funded plan &#8211; G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Pension plan liabilities as of December 31, 2015 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>665,274</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="77%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Expenses recognized in 2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>32,443</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Payments made in 2016</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(6,827)</FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Pension plan liabilities as of March 31, 2016 (i)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>690,890</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Unfunded plan &#8211; G0</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Pension plan liabilities as of December 31, 2015</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>2,166,942</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Expenses recognized in 2016</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>70,529</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Payments made in 2016</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(36,000)</FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Pension plan liabilities as of March 31, 2016 (iii)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>2,201,471</FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>2,892,361</FONT></P></DIV></TD></TR></TABLE></DIV>

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<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 0cm 0pt 120.8pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>G1 Plan</FONT></B></H4>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 59.9pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 59.9pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company sponsors a defined benefit pension plan for its employees ("Plan G1"), which is managed by Sabesprev, receives similar contributions established in a plan of subsidy of actuarial study of SABESPREV, as follows</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.3pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -10.2pt; MARGIN: 0.05pt 0cm 0pt 86.3pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>1.19% of the portion of the salary of participation up to 20 salaries; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -10.2pt; MARGIN: 4.25pt 0cm 0pt 86.3pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>10.13% of the surplus, if any, of the portion of the salary of participation over 20 salaries</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.5pt 0cm 0pt"><FONT style="FONT-SIZE: 14pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 108%; MARGIN: 1.05pt 59.8pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, SABESP had a net actuarial liability of R$690,890 (R$665,274 as of December 31, 2015) representing the difference between the present value of the Company's defined benefit obligations to the participating employees, retired employees, and pensioners; the fair value of plan assets</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-INDENT: -34.45pt; MARGIN: 0cm 0cm 0cm 120.75pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(ii)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Private pension plan benefits &#8211; Defined contribution</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016, Sabesprev Mais plan, based on defined contribution, had 5,350 active and assisted participants (5,213 as of December 2015).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>With respect to the Sabesprev Mais plan, the contributions from the sponsor represent 100% over the total basic contribution from the participants.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The value of the obligation to all participants who migrated from Plan G1 to the Sabesprev Mais Plan amounted to R$7,738 as of March 31, 2016 (R$7,907 as of December 31, 2015) referred to active participants, recorded in current liabilities, under &#8220;Other obligations&#8221;</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0cm 0cm 0cm 120.8pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(iii)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Plan</FONT></B><B><FONT style="LETTER-SPACING: -1.5pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>G0</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.8pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Pursuant to Law 4,819/58, employees who started services prior to May 1974 and were retired as an employee of the Company acquired a legal right to receive supplemental pension payments, which rights are referred as "Plan G0". The Company pays these supplemental benefits on behalf of the State Government and makes claims for reimbursements from the State Government, which are recorded as accounts receivable from related parties, limited to the amounts considered virtually certain that will be reimbursed by the State Government. As of March 31, 2016, the Company recorded a defined benefit obligation for Plan G0 of R$2,201,471 (R$2,166,942 as of December 31, 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: 0cm; MARGIN: 0cm 0cm 0cm 58.7pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(c)&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Profit sharing</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0.05pt 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company recorded as reference to the 2015 Profit Sharing Program, the amount corresponding to one month salary for each employee, depending on performance goals reached</FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>. From January to March 2016 and 2015, R$18,729 and R$17,307, respectively, were accrued</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<H4 style="TEXT-INDENT: -35.05pt; MARGIN: 4.15pt 0cm 0pt 59.25pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>20</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Services</FONT></B><B><FONT style="LETTER-SPACING: -1.3pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>payable</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.8pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The services account records the balances payable, mainly from services received from third parties, such as supply of electric power, reading of hydrometers and delivery of water and sewage bills, cleaning, surveillance and security services, collection, legal counsel services, audit, marketing and advertising and consulting services, among others. This account also records the amounts payable from the percentage in the revenues of S&#227;o Paulo local government. The balances as of March</FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> 31, 2016 and December 31, 2015 were R$482,976 and R$387,279, respectively</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.4pt 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -35.05pt; MARGIN: 0cm 0cm 0cm 59.25pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>21</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Equity</FONT></B></H4>

<P style="MARGIN: 0.45pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Authorized capital</FONT></B><B><FONT style="LETTER-SPACING: 1.45pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B></P>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company is </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>authorized</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> to increase capital by up to R$15,000,000, based on a Board of Directors' resolution, after submission to the Fiscal Council.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>In the event of capital increase, issue of convertible debentures and/or warrants by means of private subscription, shareholders will have preemptive right in the proportion of number of shares held, pursuant to Article 171 of Law 6,404/76</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0cm 0cm 0cm 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Subscribed and paid-in capital</FONT></B><B><FONT style="LETTER-SPACING: -1.3pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 59.95pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 31, 2016 and December 31, 2015, subscribed and paid-in capital is represented by 683,509,869 registered, book-entry common shares, held as follows</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 8.5pt 2.4pt 0cm" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>March 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="24%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>December 31, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Number of shares</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>%&nbsp;</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Number of shares</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>%&nbsp;</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>State Department of Finance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>343,524,285</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>50.26%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>343,524,285</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>50.26%</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0cm"><FONT style="FONT-SIZE: 9pt" color=black face=Georgia>Companhia Brasileira de Liquida&#231;&#227;o e Cust&#243;dia</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>202,980,161</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>29.70%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>199,719,739</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>29.22%</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>The Bank Of New York ADR Department (equivalent in shares) (*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>136,377,413</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>19.95%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>139,637,913</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>20.43%</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>628,010</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>0.09%</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>627,932</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>0.09%</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

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   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0cm"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>683,509,869</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>100.00%</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>683,509,869</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 14.15pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 4.8pt 0cm 2.4pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>100.00%</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.35pt 0cm 0pt"><B><FONT style="FONT-SIZE: 2.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 107%; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 72pt"><FONT style="LINE-HEIGHT: 107%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(*)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each ADR corresponds to 1 share. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.2pt 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Further information about equity, such as shareholder&#8217; compensation, dividends and purpose of reserves, can be found in Note 22 to the Annual Financial Statements as of December 31, 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

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<H4 style="LINE-HEIGHT: 220%; TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 382.5pt 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>22</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Earnings per share Basic and diluted</FONT></B></H4>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.6pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Basic earnings per share is calculated by dividing the equity attributable to Company&#8217;s owners by the weighted average number of outstanding common shares during the period. The Company does not have potentially dilutive common shares outstanding or debts convertible into common shares. Accordingly, basic and diluted earnings per share are equal</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Equity attributable to Company&#8217;s owners</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>628,789</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>318,178</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Weighted average number of common shares issued</FONT></P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>683,509,869</FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>683,509,869</FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Basic and diluted earnings per share (reais per share)</FONT></P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>0.91994</FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 2pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>0.46551</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 0cm 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>23</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Business segment information</FONT></B></H4>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.85pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Management, comprised by the Board of Directors and the Board of Executive Officers, has determined the operating segments used to make strategic decisions, as water supply and sewage services</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -19.35pt; MARGIN: 0cm 0cm 0cm 78.05pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Result</FONT></P>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="48%" colSpan=4 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 150%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 150%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Water </FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Sewage </FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Reconciliation to the financial statements</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Balance as per financial statements</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Gross operating income </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,457,627</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,113,001</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>625,280</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>3,195,908</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Gross sales deductions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(95,299)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(72,767)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(168,066)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Net operating income </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,362,328</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,040,234</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>625,280</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>3,027,842</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Costs, selling, general and administrative expenses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(1,106,119)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(688,243)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(612,386)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(2,406,748)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Income from operations before other operating expenses, net and equity accounting </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>256,209</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>351,991</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>12,894</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>621,094</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Other operating income / (expenses), net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>5,482</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Equity accounting</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2,087</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Financial result, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>340,160</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Income from operations before taxes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>968,823</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Depreciation and amortization</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>149,116</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>135,540</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>284,656</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="48%" colSpan=4 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 150%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=center><FONT style="LINE-HEIGHT: 150%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Water </FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Sewage </FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Reconciliation to the financial statements</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Balance as per financial statements</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Gross operating income </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1.129.628</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>874.864</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>588.466</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2.592.958</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Gross sales deductions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(70.059)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(54.258)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(124.317)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Net operating income </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,059,569</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>820,606</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>588,466</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>2,468,641</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Costs, selling and administrative expenses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(500,765)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(288,409)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(576,376)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(1,365,550)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Income from operations before other operating expenses, net and equity accounting </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>558,804</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>532,197</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>12,090</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,103,091</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Other operating income / (expenses), net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>32,057</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Equity accounting</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>1,114</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Financial result, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>(985,760)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Income from operations before taxes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>150,502</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 1cm">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>Depreciation and amortization</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>141,524</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>111,784</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 1cm; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=Georgia>253,308</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 4.15pt 52.95pt 0pt 58.7pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Explanation on the reconciliation items </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>for</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> the Financial Statements.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 4.15pt 52.95pt 0pt 58.7pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The impacts on gross operating income and costs are as follows</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 4.15pt 52.95pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Gross revenue from construction recognized under ICPC 1 (R1) (a)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>625,280</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>588,466</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Construction costs recognized under ICPC 1 (R1) (a)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(612,386)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(576,376)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Construction margin</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>12,894</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>12,090</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 4.15pt 52.95pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.3pt 0cm 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; TEXT-INDENT: -17.5pt; MARGIN: 4.2pt 59.65pt 0pt 93.75pt"><FONT style="LINE-HEIGHT: 111%"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 111%" color=black><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Revenue from concession construction contracts is recognized in accordance with CPC 17 (R1), Construction Contracts (IAS 11), using the percentage-of-completion method. See Notes 13 (c) and (f)</FONT></FONT><FONT style="LINE-HEIGHT: 111%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0cm 0cm 0pt 76.5pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P>

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<TR>

   <TD width="100%">

   <P></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0cm 0cm 0pt 76.5pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0cm 0cm 0pt 76.5pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating revenue</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 72pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>(a)&nbsp; Revenue from water and sewage services:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Metropolitan region of S&#227;o Paulo</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,750,611</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,301,350</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Regional Systems (i) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>820,017</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>703,142</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total (ii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,570,628</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,004,492</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -13.9pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Including the municipalities operated in countryside and at the coast of the State of S&#227;o Paulo</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.4pt 0cm 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -13.9pt; MARGIN: 0cm 59.65pt 0cm 72.6pt"><FONT style="LINE-HEIGHT: 112%"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(ii)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The gross operating revenue from sale of products and services increased by 28.2% in the period ended March 31, 2016, in comparison with the same period in 2015, due to the application of the 15.2% tariff adjustment (7.8% related to regular adjustment and 6.9% to non-recurring tariff revision) as of June 2015, the change in the bonus concession rules as of February 2016 and higher Contingency Tariff in 2016, which started to be applied in February 2015</FONT></FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></FONT></P>

<P style="MARGIN: 0.15pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 72.6pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The bonus granted in the three-month period ended March </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>31, 2016</FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> totaled R$153,766 versus R$211,235 in the three-month period ended March </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>31, 2015, while the effect of the application of the Contingency Tariff in the operating revenue in the three-month period ended March 31, 2016</FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> came to R$160,570 versus R$79,271 in the three-month period ended March </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>31, 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.2pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 72.6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The Company&#8217;s billed volume increased by 1.9%</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 72.55pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Additional information on the bonus and contingency tariff programs is presented in Note 25 (a) to the Annual Financial Statements of December 31, 2015.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 72.55pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>As of March 30, 2016, ARSESP published Resolutions 640 and 641, which cancelled the application of the contingency tariff by SABESP and authorized the cancellation of SABESP&#8217;s Water Consumption Reduction Incentive Program (&#8220;Bonus&#8221;) as of May 1, 2016</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.2pt 0cm 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0cm; MARGIN: 0cm 52.95pt 0pt 58.7pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(b)&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Reconciliation between gross operating income and net operating income</FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></B></H4>

<P style="MARGIN: 0.1pt 0cm 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Revenue from water and sewage services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,570,628</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,004,492</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Construction revenue (Note 13 (c))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>625,280</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>588,466</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Sales tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(168,066)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(124,317)</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Net revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,027,842</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 2pt 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,468,641</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 4.15pt 52.95pt 0pt 24.2pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating costs and expenses</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -21.25pt; MARGIN: 1.3pt 52.95pt 0pt 95.35pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Operating costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>386,137</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>365,723</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Pension obligations </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>22,438</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>14,521</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Construction costs (Note 13 (c))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>612,386</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>576,376</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>34,996</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>47,178</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Treatment supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>75,097</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>72,319</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Outside services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>191,329</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>203,695</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>239,591</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>158,618</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>114,196</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>85,560</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>265,106</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>234,687</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,941,276</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,758,677</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>60,702</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>56,174</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Pension obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,928</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,885</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>876</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,003</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Outside services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>62,195</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>56,207</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>231</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>169</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>19,944</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>19,227</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,324</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,473</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Allowance for doubtful accounts, </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>net of recoveries (Note 8 (c))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>56,078</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>47,343</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>205,278</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>184,481</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Administrative expenses (revenue)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>43,987</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>48,391</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Pension obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>58,110</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>47,841</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>GESP reimbursement &#8211; benefits paid (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(696,283)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>342</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>462</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Outside services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>28,886</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>35,998</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>579</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>282</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>90,508</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(50,385)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>17,226</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>16,148</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Tax expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>20,556</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>19,938</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>260,194</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(577,608)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Operating costs and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>490,826</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>470,288</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Pension obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>83,476</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>64,247</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>GESP reimbursement &#8211; benefits paid (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(696,283)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Construction costs (Note 13 (c))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>612,386</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>576,376</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>36,214</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>48,643</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Treatment supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>75,097</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>72,319</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Outside services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>282,410</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>295,900</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>240,401</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>159,069</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>224,648</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>54,402</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>284,656</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>253,308</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Tax expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>20,556</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>19,938</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>Allowance for doubtful accounts,</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt 13pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=Georgia>net of recoveries (Note 8 (c)) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>56,078</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>47,343</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,406,748</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>1,365,550</FONT></P></DIV></TD></TR></TABLE>

<P style="TEXT-INDENT: -21.25pt; MARGIN: 1.3pt 52.95pt 0pt 95.35pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -21.25pt; MARGIN: 1.3pt 52.95pt 0pt 95.35pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Additional information on GESP Agreement is presented in Note 10 (a) (vii) to the Financial Statements as at December 31, 2015.</FONT></P></DIV>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 64 de 72</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0cm 0cm 0pt 54pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial income (expenses)</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 0cm"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March </FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Financial expenses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Interest and charges on borrowings and financing &#8211; local currency </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(95,220)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(86,663)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Interest and charges on borrowings and financing &#8211; foreign currency </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(37,585)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(30,467)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other financial expenses </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(22,939)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(22,617)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Income tax over international remittance</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(4,016)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(3,913)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Inflation adjustment on borrowings and financing </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(52,945)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(56,141)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Inflation adjustment on </FONT><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Sabesprev Mais</FONT></I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia> deficit</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(368)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(432)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other inflation adjustments </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(8,244)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(4,391)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Interest and inflation adjustments on provisions </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(62,039)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(999)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total financial expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(283,356)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(205,623)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Financial income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Inflation adjustment gains </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>54,704</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>30,313</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Income on short-term investments </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>53,274</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>47,032</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Interest income </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>32,686</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>26,010</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Cofins and Pasep on financial income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(6,555)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>6,088</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>474</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total financial income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>140,197</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>103,829</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Financial income (expenses), net before exchange rate changes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(143,159)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>(101,794)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Net exchange gains (losses)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Exchange rate changes on borrowings and financing (i)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>483,296</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(884,418)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other exchange rate changes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(16)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(107)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Exchange gains</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>39</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>559</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Exchange rate changes, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>483,319</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(883,966)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Financial income (expenses), net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>340,160</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(985,760)</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia> </FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.1pt 0cm 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -22.05pt; MARGIN: 4.15pt 59.75pt 0pt 115.25pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: 1.9pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="LINE-HEIGHT: 112%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The variation in expenses is mainly due to the depreciation of the US dollar and the Yen in the first quarter of 2016, of 8.9% and 2.4%, respectively, when compared with an appreciation of 20.7% and 20.3%, respectively, in the same period in 2015</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 0cm 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>27</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Other operating income (expenses), net</FONT></B></H4>

<H4 style="TEXT-INDENT: 0cm; MARGIN: 4.15pt 0cm 0pt 24.2pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other operating income </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>7,629</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>29,283</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other operating expenses </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(2,147)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,774</FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Other operating income (expenses), net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>5,482</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 17pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>32,057</FONT></P></DIV></TD></TR></TABLE></DIV>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0cm 0cm 72.6pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</H4>

<P style="MARGIN: 0.15pt 0cm 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 4.25pt 52.95pt 0pt 306.7pt"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.85pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Other operating income is comprised by sale of property, plant and equipment, sale of contracts awarded in public bids, right to sell electricity, indemnities </FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>and</FONT><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia> reimbursement of expenses, fines and collaterals, property leases, reuse water, PURA projects and services.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.85pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Other operating expenses consist mainly of derecognition of concessions due to obsolescence, discontinued construction works, unproductive wells, projects considered economically unfeasible, losses on property, plant and equipment and exceeding cost of electricity sold</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.35pt 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 0cm 0cm 0cm 58.75pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>28</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Commitments</FONT></B></H4>

<P style="MARGIN: 0.5pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The Company has agreements to manage and maintain its activities, as well as agreements to build new projects aiming at achieving the objectives proposed in its target plan. Below, the main committed amounts as of March 31, 2016</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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<TR style="HEIGHT: 19.85pt">

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm" align=center><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>April to December 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2017 &#8211; 2018</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2019 &#8211; 2020</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2021 onwards</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 1pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Contractual obligations &#8211; Expenses </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,079,723</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,045,881</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>253,489</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,383,605</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,762,698</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 1pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Contractual obligations &#8211; Investments </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,183,843</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,652,516</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,223,026</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>6,519,864</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>11,579,249</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 1pt 0cm"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,263,566</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>3,698,397</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>1,476,515</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>7,903,469</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0cm" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 1pt 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>15,341,947</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.25pt 0cm 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.45pt 0cm 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 4.15pt 52.95pt 0pt 58.7pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>The main commitment refers to S&#227;o Louren&#231;o PPP. See Note 13 (h</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -35.45pt; MARGIN: 0cm 0cm 0pt 67.5pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>29&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Supplemental cash flow information</FONT></B></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2016</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>January to March 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total additions to intangible assets (Note 13 (b))</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>652,480</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>571,144</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Items not affecting cash (see breakdown below)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(251,502)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(51,185)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total additions to intangible assets as per statement of cash flows</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>400,978</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>519,959</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Investments and financing operations affecting intangible assets but not cash:</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Interest capitalized in the period (Note 13 (e))</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>123,717</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>72,472</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Contractors payable</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(44,689)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>(73,397)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Public-Private Partnerships &#8211; S&#227;o Louren&#231;o PPP</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>156,765</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>28,515</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Leases </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>2,815</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>11,505</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Construction margin (Notes 13 (f) and 23)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>12,894</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0cm">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0cm; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0cm" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>12,090</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="62%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>251,502</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm; HEIGHT: 15.6pt; PADDING-TOP: 0cm" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0cm 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=Georgia>51,185</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>30&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Events after the reporting period</FONT></B></P>

<P style="MARGIN: 0.45pt 0cm 0pt"><FONT style="FONT-SIZE: 13pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.45pt 0cm 0pt"><FONT style="FONT-SIZE: 14pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -14.55pt; MARGIN: 3.45pt 0cm 0pt 86.3pt"><FONT style="FONT-SIZE: 9.5pt; FONT-WEIGHT: normal" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Tariff adjustment</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0cm 52.95pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>On April 11, 2016 the S&#227;o Paulo State Energy and Sanitation Regulatory Agency (ARSESP) published ARSESP Resolution 643, authorizing SABESP to apply an 8.4478% tariff adjustment index in relation to current tariffs, as of May 12, 2016</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.4pt 0cm 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -14.55pt; MARGIN: 0cm 0cm 0cm 86.3pt"><FONT style="FONT-SIZE: 9.5pt; FONT-WEIGHT: normal" face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Companhia</FONT></B><B><FONT style="LETTER-SPACING: -1.3pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>de</FONT></B><B><FONT style="LETTER-SPACING: -1.3pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Transmiss&#227;o</FONT></B><B><FONT style="LETTER-SPACING: -1.3pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>de</FONT></B><B><FONT style="LETTER-SPACING: -1.3pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Energia</FONT></B><B><FONT style="LETTER-SPACING: -1.3pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>El&#233;trica</FONT></B><B><FONT style="LETTER-SPACING: -1.3pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Paulista</FONT></B><B><FONT style="LETTER-SPACING: -1.3pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>&#8211;</FONT></B><B><FONT style="LETTER-SPACING: -1.35pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>CTEEP</FONT></B></H4>

<P style="MARGIN: 0.4pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=PT-BR face=Georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0cm 52.95pt 0pt 58.7pt"><FONT style="LINE-HEIGHT: 111%; BACKGROUND: white" color=black><FONT style="BACKGROUND: white; FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>On April 20, 2016 the Company sold the 2,221,000 preferred shares issued by the S&#227;o Paulo Company of Electric Power Transmission (Companhia de Transmiss&#227;o de Energia El&#233;trica Paulista &#8211; CTEEP), totaling R$111.1 million</FONT></FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 12.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -14.55pt; MARGIN: 0cm 0cm 0cm 86.3pt"><FONT style="FONT-SIZE: 9.5pt; FONT-WEIGHT: normal" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia>Annual Shareholders&#8217; Meeting</FONT></B></H4>

<P style="MARGIN: 0.35pt 0cm 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 52.95pt 0pt 58.7pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>On April 29, 2016&nbsp;it was held the Annual Shareholders&#8217; Meeting</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Comments on the Company&#8217;s projections</FONT></B></P></TD></TR></TABLE>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: 0cm; MARGIN: 4.2pt 0cm 0pt 58.7pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>Comments on the Company&#8217;s projections</FONT></B></H4>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Georgia></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 58.7pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The projections presented in the </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>reference</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia> form are annual and not on a quarterly basis. Therefore, the quarterly comparison between the information disclosed in the reference form with quarterly results shall not apply</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 58.7pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia>The projections monitoring occurs on annual basis and are disclosed in the reference form</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Other Information Deemed as Relevant by the Company</FONT></B></P></TD></TR></TABLE>

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<P style="TEXT-INDENT: -21.3pt; MARGIN: 10.05pt 75.85pt 0pt 61.05pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="times new roman">1.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="times new roman">CHANGES IN INTEREST HELD BY CONTROLLING SHAREHOLDER, BOARD MEMBERS AND EXECUTIVE OFFICERS</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>CONSOLIDATED SHAREHOLDING OF CONTROLLING SHAREHOLDERS, <BR>MANAGEMENT AND OUTSTANDING SHARES <BR>Position as of March 31, 2016</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Shareholder</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Number of Common Shares <BR>(units)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>%</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Total Number of Shares <BR>(units)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Controlling shareholder</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Treasury Department</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia>343,524,285 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>50.3%</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia>343,524285</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>50.3%</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Management</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Board of Directors</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Executive Officers</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Fiscal Council</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>15 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>15 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Treasury shares </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Other shareholders</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>343,524,300</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>50.3%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>343,524,2300</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>50.3%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Outstanding shares</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>339,985, 569 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>49.7%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>339,985,569</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>49.7%</FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Other Information Deemed as Relevant by the Company</FONT></B></P></TD></TR></TABLE>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>CONSOLIDATED SHAREHOLDING OF CONTROLLING SHAREHOLDERS,</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia><BR></FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>MANAGEMENT AND OUTSTANDING SHARES</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia><BR></FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Position as of March 31, 2015</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Shareholder</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Number of </FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia><BR></FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Common Shares</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia><BR></FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>(units)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Total</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia><BR></FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Number of Shares</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia><BR></FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>(units)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>%</FONT></B></P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Controlling shareholder</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Treasury Department</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>343,524,258</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>50.3%</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>343,524,258</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>50.3%</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Management</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Board of Directors</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Executive Officers</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>-</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Fiscal Council</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Treasury shares</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Other shareholders</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>343,524,285</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>50.3%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>343,524,285</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>50.3%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Outstanding shares</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia>339,985,584 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>49.7%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia>339,985,584</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>49.7%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 13pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -21.3pt; MARGIN: 3.45pt 0cm 0pt 82.35pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="times new roman">2.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="times new roman">SHAREHOLDING POSITION</FONT></B></P>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.05pt 0cm 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 19.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: silver; HEIGHT: 19.85pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="100%" colSpan=5>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>SHAREHOLDING POSITION OF HOLDERS OF MORE THAN 5% OF EACH TYPE AND CLASS OF COMPANY SHARES, UP TO THE INDIVIDUAL LEVEL</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: silver; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="66%" colSpan=3>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" color=black face=Georgia>Company:<BR>CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: silver; HEIGHT: 19.85pt; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="34%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Position as of March 31, 2016<BR>(shares)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="34%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Common shares</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="34%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Shareholder</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Number of shares</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Number of shares</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>Treasury Department</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia>343,524,285 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>50.3</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Georgia>343,524,285</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Georgia>50.3</FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></B></DIV></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

<H2 style="LINE-HEIGHT: normal; MARGIN: 9.7pt 52.95pt 0pt 6.3pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Reports and Statements / Unqualified Report on Special Review</FONT></B></H2>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 110%; MARGIN: 72pt 0cm 12pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">(Convenience Translation into English from the Original Previously Issued in Portuguese)</FONT></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 12pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">To the Shareholders, Board of Directors and Management of</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face="times new roman">Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 12pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">S&#227;o Paulo - SP</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0cm; MARGIN: 12pt 0cm 12pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Introduction</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">We have reviewed the accompanying interim financial information of </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman"> (the &#8220;Company&#8221;) included in the Quarterly Information Form (ITR), for the quarter ended March 31, 2016, which comprises the financial position as of March 31, 2016 and the related statements of income, comprehensive income, changes in equity and cash flows for the three-month period then ended, including the explanatory notes.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">The Company&#8217;s Management is responsible for the preparation of the interim financial information in accordance with technical pronouncement CPC&nbsp;21&nbsp;(R1) - Interim Financial Information and in accordance with international standard IAS&nbsp;34 - </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Interim Financial Reporting</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">, issued by the International Accounting Standards Board (IASB), as well as for the presentation of such information in accordance with the standards issued by the Brazilian Securities and Exchange Commission, applicable to the preparation of Interim Financial Information - ITR. Our responsibility is to express a conclusion on this interim financial information based on our review.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0cm; MARGIN: 12pt 0cm 12pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Scope of review</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 12pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">We conducted our review in accordance with Brazilian and international standards on review of interim financial information (NBC&nbsp;TR&nbsp;2410 and ISRE&nbsp;2410 - </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">Review of Interim Financial Information Performed by the Independent Auditor of the Entity</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with standards on auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0cm; MARGIN: 12pt 0cm 12pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Conclusion on the interim financial information</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 12pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial information included in the ITR referred to above was not prepared, in all material respects, in accordance with CPC&nbsp;21&nbsp;(R1) and IAS&nbsp;34, applicable to the preparation of Interim Financial Information - ITR, and presented in accordance with the standards issued by the </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Brazilian Securities and Exchange Commission</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">.</FONT></FONT></P><FONT style="LINE-HEIGHT: 110%" face="times new roman"></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt"><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ITR &#8211; Quarterly Information Form &#8211; 03/31/2016 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0cm 0cm 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=EN-US face=arial,sans-serif>Version: 1</FONT></FONT></P></DIV></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0cm; MARGIN: 12pt 0cm 0cm 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0cm; MARGIN: 12pt 0cm 0cm 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">Other matters</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0cm; MARGIN: 12pt 0cm 0cm 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">Statements of value added</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0cm; MARGIN: 12pt 0cm 0cm 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">We have also reviewed the statements of value added (DVA) for the three-month period ended March 31, 2016, prepared under the responsibility of the Company&#8217;s Management, the presentation of which is required by the standards issued by the CVM - </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Brazilian Securities and Exchange Commission</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"> applicable to the preparation of Interim Financial Information - ITR and considered as supplemental information by IFRSs, which does not require the presentation of DVA. These statements were subject to the same review procedures described above, and, based on our review, nothing has come to our attention that causes us to believe that they were not prepared, in all material respects, consistently with the interim financial information taken as a whole.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 0pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></I></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0cm; MARGIN: 12pt 0cm 0cm 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">The accompanying </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">interim financial information </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">has been translated into English for the convenience of readers outside Brazil.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 12pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0cm 0cm 36pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face="times new roman">S&#227;o Paulo, May 12, 2016</FONT></FONT></P>

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<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>

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<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;May 26, 2016</FONT></DIV>

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   <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>

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   <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;Rui de Britto &#193;lvares Affonso&nbsp;&nbsp;&nbsp;

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   <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>

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<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>

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