<SEC-DOCUMENT>0001292814-16-003561.txt : 20160224
<SEC-HEADER>0001292814-16-003561.hdr.sgml : 20160224
<ACCEPTANCE-DATETIME>20160224140502
ACCESSION NUMBER:		0001292814-16-003561
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160224
DATE AS OF CHANGE:		20160224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ternium S.A.
		CENTRAL INDEX KEY:			0001342874
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			N4
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32734
		FILM NUMBER:		161451320

	BUSINESS ADDRESS:	
		STREET 1:		29 AVENUE DE LA PORTE-NEUVE
		STREET 2:		3RD FLOOR
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2227
		BUSINESS PHONE:		(352) 4661-11-3815

	MAIL ADDRESS:	
		STREET 1:		29 AVENUE DE LA PORTE-NEUVE
		STREET 2:		3RD FLOOR
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2227
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>terniumpr4q15_6k.htm
<DESCRIPTION>TERNIUM ANNOUNCES FOURTH QUARTER AND FULL YEAR 2015 RESULTS
<TEXT>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" face="Times New Roman">FORM 6 - K</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman">SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman">Washington, D.C. 20549</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Report of Foreign Private Issuer</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Pursuant to Rule 13a - 16 or 15d - 16 of</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the Securities Exchange Act of 1934</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 13pt" face="times new roman">As of 2/23/2016</FONT></B></H1>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman">Ternium S.A. </FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(Translation of Registrant's name into English)</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 13pt" face="Times New Roman">Ternium S.A.<BR></FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">29, Avenue de la Porte-Neuve </FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">L-2227 Luxembourg </FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(352) 2668-3152 </FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(Address of principal executive offices)</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 2.45pt 0pt 0in; TEXT-INDENT: 21.3pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40-F.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Form 20-F</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp; </FONT></U><B><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face=symbol>&#214;</FONT></U></B><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp; </FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;Form 40-F</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt; TEXT-DECORATION: none" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12G3-2(b) under the Securities Exchange Act of 1934.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Yes&nbsp;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;No</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp; </FONT></U><B><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face=symbol>&#214;</FONT></U></B><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;</FONT></U></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 21.3pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">If &#8220;Yes&#8221; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): </FONT></P>

<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in; TEXT-INDENT: 21.3pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Not applicable</FONT></B></H2>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman">The attached material is being furnished to the Securities and Exchange Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 16pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 14pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="times new roman">This report contains Ternium S.A.&#8217;s press release announcing fourth quarter 2015 results.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-WEIGHT: normal" face="times new roman">SIGNATURE</FONT></H1>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman">TERNIUM S.A. </FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman"></FONT>&nbsp;</P>

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   <P>By: <U><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#000000 face="Times New Roman">/s/ Pablo Brizzio<BR></FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt" color=#000000 face="Times New Roman"><FONT style="FONT-SIZE: 11pt">Name: Pablo Brizzio</FONT><BR>Title: Chief Financial Officer</FONT></P></TD>

   <TD vAlign=top width="50%">By: <FONT lang=EN-US style="FONT-SIZE: 11pt" color=#000000 face="Times New Roman"><U>/s/ Daniel Novegil<BR></U>Name: Daniel Novegil<BR>Title: Chief Executive Officer</FONT></TD></TR></TABLE></FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">Dated: February 23, 2016</FONT></P>

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<P style="PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0%"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=tradegothic>Sebasti&#225;n Mart&#237;</FONT></B></P>

<P style="PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0%"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=tradegothic>Ternium - Investor Relations</FONT></B></P>

<P style="PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=tradegothic>+1&nbsp;&nbsp; (866) 890 0443</FONT></P>

<P style="PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=tradegothic>+54 (11) 4018 2389</FONT></P>

<P style="PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=tradegothic>www.ternium.com</FONT></P>

<P style="PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face="Times New Roman"></FONT>&nbsp;</P>

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<P style="PADDING-LEFT: 0%; MARGIN: 8pt 0in 0pt; PADDING-RIGHT: 0%"><B><FONT lang=EN-US style="FONT-SIZE: 16pt" color=#ff3300 face=tradegothic>Ternium Announces Fourth Quarter and Full Year 2015 Results</FONT></B></P>

<P style="TEXT-ALIGN: justify; PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt; PADDING-RIGHT: 0%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Luxembourg, February 23, 2016 &#8211; Ternium S.A. (NYSE: TX) today announced its results for the fourth quarter and full year period ended December 31, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0%"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">The financial and operational information contained in this press release is based on Ternium S.A.&#8217;s operational data and consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and presented in U.S. dollars (USD) and metric tons.</FONT></I></P>

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<P style="PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt; PADDING-RIGHT: 0%"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Summary of Fourth Quarter 2015 Results </FONT></B></P>

<P style="TEXT-ALIGN: justify; PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt 247.8pt; PADDING-RIGHT: 0%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=white face="sabon mt">4Q 2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=white face="sabon mt">3Q 2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=white face="sabon mt">4Q 2014</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Steel Shipments (tons)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">2,310,000</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">2,463,000</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-6%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">2,354,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-2%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Iron Ore Shipments (tons)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">906,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">892,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">2%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">1,022,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-11%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net Sales (USD million)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">1,809.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">1,945.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-7%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">2,154.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-16%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Operating Income (USD million)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">191.6</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">140.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">36%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">191.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">0%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">EBITDA<SUP>1</SUP> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">(USD million)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">297.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">250.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">19%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">300.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">-1%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">EBITDA per Ton<SUP>2</SUP> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">(USD)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">128.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">101.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">127.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">EBITDA Margin (% of net sales)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">16.4%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">12.9%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">14.0%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Equity in Results of Non-Consolidated Companies</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">(213.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">(48.8)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">(5.3)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net (Loss) Income (USD million)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">(126.5) </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">40.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">71.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Equity Holders' Net (Loss) Income (USD million)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">(126.2) </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">24.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">53.0 </FONT></P></TD>

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<TR style="HEIGHT: 15pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">(Losses) Earnings per ADS (USD)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">(0.64)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">0.13</FONT></P></TD>

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   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">0.27</FONT></P></TD>

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<P style="TEXT-ALIGN: justify; PADDING-LEFT: 0%; MARGIN: 0in 0in 0pt 35.7pt; PADDING-RIGHT: 0%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"></FONT>&nbsp;</P>

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<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">EBITDA of USD297.1 million in the fourth quarter 2015, USD46.7 million higher than EBITDA in the third quarter 2015 as a result of higher EBITDA per ton, partially offset by lower shipments.</FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Impairment of investment in Usiminas of USD191.9 million. The book value of Ternium&#8217;s investment in Usiminas as of December 31, 2015 was USD240.0 million.</FONT> </LI></UL>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face="sabon mt"><SUP>1</SUP> EBITDA in the fourth quarter 2015 equals operating income of USD191.6 million adjusted to exclude depreciation and amortization of USD105.5 million.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face="sabon mt"><SUP>2</SUP> Consolidated EBITDA divided by steel shipments.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">1</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT></P></DIV>

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<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net foreign exchange losses of USD30.1 million, mainly due to the depreciation of the Argentine Peso, offset by changes in Ternium&#8217;s net equity position in the currency translation adjustments line.</FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Losses per American Depositary Share (ADS)<SUP>3</SUP> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">of USD0.64 in the fourth quarter 2015, including a loss per ADS of USD0.91 in connection with the above mentioned impairment of the investment in Usiminas.</FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Capital expenditures of USD123.8 million in the fourth quarter 2015, compared to USD115.3 million in the third quarter 2015.</FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net debt position of USD1.1 billion at the end of December 2015,</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face="sabon mt"> down from USD1.3 billion at the end of September</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face="sabon mt">2015 and equivalent to 1.1 times net debt to last twelve months EBITDA.</FONT> </LI></UL>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Ternium&#8217;s operating income in the fourth quarter 2015 was USD191.6 million, up by USD51.1 million compared to the third quarter 2015 due to higher operating margin<SUP>4</SUP></FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">, partially offset by lower shipments, mainly in Mexico. Operating margin increased sequentially principally as a result of USD34 lower operating cost per ton<SUP>5</SUP></FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">, partially offset by USD6 lower steel revenue per ton. The decrease in operating cost per ton was mainly due to lower costs of </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">purchased slabs, raw materials and energy. </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Steel revenue per ton decreased principally as a result of lower realized steel prices in Mexico.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Compared to the fourth quarter 2014, the company&#8217;s operating income in the fourth quarter 2015 was stable as a result of slightly higher operating margin, offset by slightly lower shipments. A USD135 decrease in operating cost per ton was partially offset by a USD128 decrease in steel revenue per ton. The decrease in operating cost per ton was mainly due to lower cost of </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">purchased slabs, raw materials and energy. </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Steel revenue per ton decreased principally as a result of lower steel prices in Ternium&#8217;s main steel markets, partially offset by a higher value added product mix.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">The company&#8217;s net result in the fourth quarter 2015 was a net loss of USD126.5 million, including a USD191.9 million impairment charge on Ternium&#8217;s investment in Usiminas, compared to a net gain of USD40.0 million in the third quarter 2015. Net financial expenses were USD33.6 million higher sequentially, mainly as a result of higher net foreign exchange losses in Ternium&#8217;s Argentine subsidiary Siderar, principally due to the non-cash negative impact of the Argentine Peso&#8217;s 28% depreciation against the U.S. dollar on Siderar&#8217;s U.S. dollar financial position, which is offset by changes in Ternium&#8217;s net equity position in the currency translation adjustments line.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net results in the fourth quarter 2015 were USD197.9 million lower than in the fourth quarter 2014. This year-over-year decrease was mainly due to the above mentioned impairment of Ternium&#8217;s investment in Usiminas and USD62.2 million higher net financial expenses, partially offset by USD72.1 million lower income tax expense.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"><SUP>3</SUP> Each American Depositary Share (ADS) represents 10 shares of Ternium&#8217;s common stock.&nbsp; Results are based on a weighted average number of shares of common stock outstanding (net of treasury shares) of 1,963,076,776.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"><SUP>4</SUP> Operating margin is equal to revenue per ton less operating cost per ton.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"><SUP>5</SUP> Operating cost per ton is equal to cost of sales plus SG&amp;A, divided by shipments.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Summary of Full Year 2015 Results</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 247.8pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=white face="sabon mt"></FONT>&nbsp;</P>

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<TR style="HEIGHT: 19.5pt">

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=white face="sabon mt">FY 2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=white face="sabon mt">FY 2014</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="59%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>&nbsp;</TD>

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   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Steel Shipments (tons)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">9,600,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">9,381,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">2%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Iron Ore Shipments (tons)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">2,729,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">2,835,000</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-4%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net Sales (USD million)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">7,877.4</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">8,726.1</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-10%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Operating Income (USD million)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">639.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">1,056.2</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-40%</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">EBITDA (USD million)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">1,073.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">1,471.0</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">-27%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">EBITDA per Ton (USD)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">111.8 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">156.8</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">EBITDA Margin (% of net sales)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">13.6%</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">16.9%</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net Income (Loss) (USD million)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">59.8 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">(104.2)</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Equity Holders' Net Income (Loss) (USD million)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">8.1 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">(198.8)</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Earnings (Losses) per ADS (USD)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">0.04</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">(1.01)</FONT></P></TD>

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<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">EBITDA<SUP>6</SUP> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">of USD1.1 billion in 2015, down from EBITDA of USD1.5 billion in 2014.</FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Earnings per ADS<SUP>7</SUP> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">of USD0.04 in 2015, including a loss per ADS of USD0.91 in connection with the above mentioned impairment of the investment in Usiminas.</FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Capital expenditures of USD466.6 million in 2015, compared to USD443.5 million in 2014.</FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net debt decrease of USD669.2 million in 2015. Of note in the period was a decrease of USD509.1 million in working capital and USD209.4 million dividend payments.</FONT> </LI></UL>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Operating income in 2015 was USD639.3 million, USD416.8 million lower than operating income in 2014. Steel shipments increased by 219,000 tons year-over-year, mainly as a result of a 301,000 ton increase in Mexico and a 41,000 ton increase in the Southern Region, partially offset by a 124,000 ton decrease in Other Markets. Operating margin decreased, mainly reflecting USD108 lower steel revenue per ton, partially offset by USD70 lower operating cost per ton. Steel revenue per ton decreased as a result of lower steel prices in Ternium&#8217;s main steel markets, partially offset by a higher value added product mix. The decrease in operating cost per ton was mainly due to lower </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">purchased slabs, raw material and energy costs.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net income in 2015 was USD59.8 million, compared to a USD104.2 million net loss in 2014. Both years were affected by impairments to the recoverable value of Ternium&#8217;s investment in Usiminas, of USD191.9 million and USD739.8 million in 2015 and 2014, respectively. The USD164.0 million higher result in the year-over-year comparison was mainly due to the above mentioned lower impairment of Ternium&#8217;s investment in Usiminas and to lower income tax expenses, partially offset by lower operating income and higher net financial expenses.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face="sabon mt"><SUP>6</SUP> EBITDA in 2015 equals operating income of USD639.3 million adjusted to exclude depreciation and amortization of USD433.8 million.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="MARGIN: 0in 0in 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"><SUP>7</SUP> </FONT>Each American Depositary Share (ADS) represents 10 shares of Ternium&#8217;s common stock.&nbsp; Results are based on a weighted average number of shares of common stock outstanding (net of treasury shares) of 1,963,076,776.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">3</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Impairment of Investment in Usiminas</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Usiminas&#8217; financial statements as of December 31, 2015 described a downgraded economic scenario for the company that caused a significant impact on its financial leverage and cash generation. In addition, Usiminas&#8217; auditors (KPMG) included in their report on these financial statements an emphasis of matter paragraph which, without qualifying their opinion, indicated the existence of &#8220;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">a material uncertainty that may cast significant doubt about the Company&#8217;s ability to continue as a going concern</FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">&#8221; as a result of the risk of not achieving an action plan defined by Usiminas&#8217; management to equalize its financial obligations with cash generation. Consequently, Ternium, in a conservative approach and considering the guidance of IAS 36, assessed the recoverable value of its investment in Usiminas based on Usiminas ordinary shares average market price for December 2015, and impaired its investment by USD 191.9 million. The resulting book value of Ternium&#8217;s investment in Usiminas as of December 31, 2015 is USD240.0 million.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Annual Dividend Proposal</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Ternium&#8217;s board of directors proposed that an annual dividend of USD0.09 per share (USD0.90 per ADS), or approximately USD180.4 million in the aggregate, be approved at the company&#8217;s annual general shareholders&#8217; meeting, which is scheduled to be held on May 4, 2016. If the annual dividend is approved at the shareholders&#8217; meeting, it will be paid on May 13, 2016, with record-date of May 10, 2016. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Market Background and Outlook</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">The steel industry continued to be characterized in 2015 by significant overcapacity, mainly in China. This, together with a deceleration of China&#8217;s economic growth rate, led to an unprecedented level of low-priced Chinese steel exports, in many cases under unfair trade conditions, that exerted significant pressure on global steel prices. Ternium was not exempt from these developments, as the company&#8217;s average realized prices fell 12% year-over-year in 2015, including a 15% decrease in Mexico, the market that represents two thirds of Ternium&#8217;s shipments.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">In this complex environment, the company was able to achieve record steel shipments of 9.6 million tons in 2015, primarily by focusing on high value-added products and innovative services within its differentiation strategy. This strategic focus was supported by Mexico&#8217;s strong manufacturing industry and active government policy against unfair trade practices. In fact, Ternium&#8217;s shipments in Mexico grew 5% in 2015 versus the prior year.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">The company&#8217;s EBITDA per ton of USD112 in 2015 decreased by USD45 year-over-year as falling costs for purchased slabs, raw materials, labor and energy, did not match the above mentioned decrease in revenue per ton, in part as a result of a gradual pass-through of these input prices to Ternium&#8217;s cost of sales. In addition, EBITDA per ton in 2015 was negatively affected by an increase in local costs at Ternium&#8217;s Argentine subsidiary as a result of another year of elevated inflation levels in the country. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Following seasonally weaker shipments in Mexico in the fourth quarter 2015, Ternium expects shipments in this market in the first quarter 2016 to return to previous quarters&#8217; levels, supported by healthy sales to the industrial and non-residential construction sectors. Steel prices in the North American market halted their downward trend by the end of the fourth quarter 2015, supported by decreasing service center inventories due to a significant reduction in capacity utilization rates in the U.S. steel industry and lower import levels resulting from actions taken against unfair trade practices.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">The company anticipates shipments in the Southern Region to decrease in the first quarter 2016 mainly as a result of a destocking of the value chain, together with the usual seasonality at the beginning of the year. Following a significant devaluation of the local currency in Argentina by the end of December 2015, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">steel prices decreased in this market by approximately 24% in U.S. dollar terms between December 2015 and February 2016. Cost per ton in Argentina should also sequentially decrease in the first quarter 2016, as a result of the effect of the currency depreciation on local costs and the company&#8217;s inventories.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Ternium expects operating income in the first quarter 2016 to approach the level reached in the fourth quarter 2015, with lower EBITDA per ton and higher shipments. The company anticipates average realized prices to sequentially decrease in its main markets in the first quarter of the year. This decrease is expected to be partially offset by a reduction in cost per ton, mainly due to the effect of the devaluation of the Argentine Peso and to the gradual pass-through of lower raw material and purchased slab prices in Mexico to Ternium&#8217;s cost of sales.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Analysis of Fourth Quarter 2015 Results </FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net loss</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">attributable to Ternium&#8217;s equity owners</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"> in the fourth quarter 2015 was USD126.2 million, compared to net gain attributable to Ternium&#8217;s equity owners of USD53.0 million in the fourth quarter 2014</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"> Including non-controlling interest, net loss for the fourth quarter 2015 was USD126.5 million, compared to net gain of USD71.4 million in the fourth quarter 2014. The net loss in the fourth quarter 2015 included the above mentioned USD191.9 million loss related to an impairment of Ternium&#8217;s investment in Usiminas. Losses per ADS in the fourth quarter 2015 were USD0.64, compared to earnings per ADS of USD0.27 in the fourth quarter 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net sales </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 were USD1.8 billion, or 16% lower than net sales in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014. The following table outlines Ternium&#8217;s consolidated net sales for the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 and the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Net Sales (million USD) </FONT></B></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2014 </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Dif. </FONT></B></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Mexico </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">954.2 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,215.8 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-22%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Southern Region </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">650.3 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">667.0 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-3%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Other Markets </FONT></P></TD>

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   <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">199.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">257.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-22%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Total steel products net sales </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,804.1 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,140.1 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-16%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Other products<SUP>1</SUP> </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5.3 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9.6 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-45%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Steel segment net sales</FONT></B></P></TD>

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   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,809.4 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2,149.7 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">-16%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Mining segment net sales</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">45.4 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">71.4 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">-36%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Intersegment eliminations </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(44.8)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(66.5)</FONT></P></TD>

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   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Net sales</FONT></B></P></TD>

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   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,809.9 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2,154.6 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">-16%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 6pt 0in 0pt 7.1pt; LINE-HEIGHT: 115%; TEXT-INDENT: -7.5pt"><SUP><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">1</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT></FONT></SUP><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">The item "Other products" primarily includes pig iron.</FONT></FONT></P>

<P style="MARGIN: 10pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Cost of sales</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> was USD1.4 billion in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, a decrease of USD326.7 million compared to the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014. This was principally due to a USD320.3 million, or 23%, decrease in raw material and consumables used, mainly reflecting lower iron ore, coking coal, scrap, energy and purchased slabs costs, and a 2% decrease in steel shipments; and to a USD6.4 million decrease in other costs, mainly including a USD10.3 million decrease in labor cost, a USD6.2 million decrease in services and fees and a USD5.6 million decrease in depreciation of property, plant and equipment and amortization of intangible assets, partially offset by a USD14.4 million increase in maintenance expenses.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">5</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Selling, General &amp; Administrative (SG&amp;A) expenses</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 were USD180.1 million, or 9.9% of net sales, a decrease of USD21.6 million compared to SG&amp;A expenses in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014 mainly due to lower labor costs, freight and transportation expenses, services and fees expenses and lower taxes and contributions (other than income tax).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Operating income </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 was USD191.6 million, or 10.6% of net sales, compared to operating income of USD191.3 million, or 8.9% of net sales, in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014. The following table outlines Ternium&#8217;s operating income by segment for the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 and </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014:</FONT></P>

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

<DIV align=left>

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



<TR style="HEIGHT: 32.25pt">

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT></TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" colSpan=3 align=center>

   <P style="MARGIN: 1pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Steel segment</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" colSpan=3 align=center>

   <P style="MARGIN: 1pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Mining segment</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" colSpan=3 align=center>

   <P style="MARGIN: 1pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Intersegment</FONT></B></FONT></P>

   <P style="MARGIN: 1pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">eliminations</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=2 align=center>

   <P style="MARGIN: 1pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Total</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 23.25pt">

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">USD million</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2014</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2014</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2014</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2014</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%; TEXT-INDENT: 8pt"><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Net Sales</FONT></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,809.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,149.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">45.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">71.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(44.8)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(66.5)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,809.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,154.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%; TEXT-INDENT: 8pt"><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Cost of sales</FONT></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,434.0)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,766.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(46.0)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(67.8)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">41.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">69.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,438.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,765.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%; TEXT-INDENT: 8pt"><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">SG&amp;A expenses</FONT></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(177.1)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(196.8)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(3.0)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(4.9)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(180.1)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(201.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 2.4pt 0pt 2.4pt 0in; LINE-HEIGHT: 115%; TEXT-INDENT: 8pt"><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Other operating income , net</FONT></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(0.3)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">3.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">3.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Operating income (expense)</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">198.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">189.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(3.3)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(1.1)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(3.2)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">191.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">191.3 </FONT></P></TD></TR>

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   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>

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<TR style="HEIGHT: 15pt">

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   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">EBITDA</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">292.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">285.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">8.0</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">12.8</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(3.2)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">297.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">300.9 </FONT></P></TD></TR>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Steel reporting segment</FONT></B></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">The steel segment&#8217;s operating income was USD198.1 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, an increase of USD8.5 million compared to the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net sales of steel products in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 decreased 16% compared to the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014, reflecting a USD128 decrease in steel revenue per ton shipped and a 45,000 tons decrease in shipments. Revenue per ton decreased 14%, reflecting lower steel prices in Ternium&#180;s main steel markets, partially offset by a better product mix. Shipments decreased 2% year-over-year in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 mainly due to lower shipments in Mexico and in Other Markets.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">6</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

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<TR style="HEIGHT: 15pt">

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Net Sales (million USD) </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Shipments (thousand tons) </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Revenue / ton (USD/ton) </FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2014 </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Dif.</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2014 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Dif. </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0pt 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2014 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Dif. </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Mexico </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">954.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,215.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-22%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,406.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,425.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-1%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">678 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">853 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-20%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Southern Region </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">650.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">667.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-3%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">643.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">640.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,010 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,041 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-3%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Other Markets </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">199.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">257.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-22%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">259.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">288.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-10%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">770 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">894 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-14%</FONT></P></TD></TR>

<TR style="HEIGHT: 4.5pt">

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 1pt" face="sabon mt"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Total steel products </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,804.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,140.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-16%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,309.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,354.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-2%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">781 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">909 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-14%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Other products<SUP>1</SUP> </FONT></P></TD>

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   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-45%</FONT></P></TD>

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   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4.5pt">

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   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>

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   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

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   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 0.25in">

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   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Steel segment</FONT></B></P></TD>

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   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,809.4 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2,149.7 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">-16%</FONT></P></TD>

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<TR style="HEIGHT: 12.1pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"><SUP>1</SUP> The item "Other products" primarily includes pig iron. </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 26.95pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 26.95pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Operating cost decreased 18% year-over-year in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, due to a 16% decrease in cost per ton and the above mentioned 2% decrease in shipments. The decrease in operating cost per ton was mainly the result of lower raw material, purchased slabs and energy costs.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Mining reporting segment</FONT></B></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">The mining segment&#8217;s operating income was a loss of USD3.3 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, compared to a loss of USD1.1 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014, mainly reflecting lower net sales, partially offset by a lower operating cost.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net sales of mining products in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 were 36% lower than net sales in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014, mainly as a result of lower revenue per ton and lower shipments. Shipments were 906,000 tons, 11% lower than in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014. </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 15pt">

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   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Mining segment</FONT></B></P></TD></TR>

<TR style="HEIGHT: 23.25pt">

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   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">4Q 2014 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Dif. </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15pt">

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Net Sales (million USD)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">45.4</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">71.4</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">-36%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Shipments (thousand tons)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">906.1</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">1,021.9</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">-11%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Revenue per ton (USD/ton)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">50</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">70</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">-28%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Operating cost decreased 32% year-over-year, mainly due to the above mentioned 11% decrease in shipment volumes and a 24% decrease in operating cost per ton. The decrease in operating cost per ton was mainly the result of lower energy costs and freight and transportation expenses. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">EBITDA</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 was USD297.1 million, or 16.4% of net sales, compared to USD300.9 million, or 14.0% of net sales, in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net financial results </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">were a USD53.5 million loss in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, compared to an USD8.7 million gain in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014. During the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, Ternium&#8217;s net financial interest results totaled a loss of USD15.5 million, compared to a loss of USD26.3 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014, reflecting lower indebtedness and weighted average interest rates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net foreign exchange results were a loss of USD30.1 million in the fourth quarter 2015 compared to a gain of USD26.3 million in the fourth quarter 2014. The fourth quarter 2015 loss was mainly due to the </FONT>

<FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">negative impact of the Argentine Peso&#8217;s 28% depreciation against the U.S. dollar on Ternium&#8217;s Argentine subsidiary Siderar&#8217;s U.S. dollar financial position. Siderar&#8217;s functional currency is the Argentine Peso. These results are non-cash when measured in U.S. dollars and are offset by changes in Ternium&#8217;s net equity position in the currency translation adjustments line, as the value of Siderar&#8217;s net U.S. dollar position is not altered by the Argentine Peso fluctuation when stated in U.S. dollars in Ternium&#8217;s consolidated financial statements.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Change in fair value of financial instruments included in net financial results was a USD7.4 million loss in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 compared to a USD9.6 million gain in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014. The loss in the fourth quarter 2015 was mainly related to certain foreign exchange derivative instruments entered into to compensate for the interest rate charges derived from Siderar&#8217;s Argentine Peso denominated financial debt. In accordance with IFRS, the positive impact in U.S. dollar terms of the Argentine Peso&#8217;s 28% depreciation on Siderar&#8217;s Argentine Peso denominated financial debt has been included in Other Comprehensive Income. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Equity in results of non-consolidated companies</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> was a loss of USD213.4 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, compared to a loss of USD5.3 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2014. Equity in results of non-consolidated companies in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 included the above mentioned USD191.9 million loss related to an impairment of Ternium&#8217;s investment in Usiminas. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Income tax expense</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth quarter </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">2015 was USD51.2 million, or 68% of income before income tax expense, compared with an income tax expense of USD123.3 million in the fourth quarter 2014, or 63% of income before income tax expense. Effective tax rate in both periods was higher than usual. Effective tax rate in the fourth quarter 2015 was mainly affected by the impact of non-taxable losses stemming from the investment in Usiminas, while effective tax rate in the fourth quarter 2014 was mainly affected by the non-cash impact on deferred taxes of the significant depreciation of the Mexican peso and the Colombian peso against the U.S. dollar during the period, which reduces, in U.S. dollar terms, the tax base used to calculate deferred tax at our Mexican and Colombian subsidiaries (which have the U.S. dollar as their functional currency).</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net loss attributable to non-controlling interest</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">fourth </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 was USD0.3 million, compared to net gain of USD18.3 million in the same period in 2014, a decrease mainly related to a lower result attributable to non-controlling interest in Siderar.</FONT></P>

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

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Analysis of Full Year 2015 Results </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net income</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">attributable to Ternium&#8217;s equity owners</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"> in 2015 was USD8.1 million, compared to a net loss attributable to Ternium&#8217;s equity owners of USD198.8 million in 2014</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"> Including non-controlling interest, net income in 2015 was USD59.8 million, compared to net loss of USD104.2 million in 2014. Both years were affected by impairments to the recoverable value of Ternium&#8217;s investment in Usiminas, of USD191.9 million and USD739.8 million in 2015 and 2014, respectively. Earnings per ADS in 2015 were USD0.04, compared to losses per ADS of USD1.01 in 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net sales </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">in 2015 were USD7.9 billion, 10% lower than net sales in 2014. The following table shows Ternium&#8217;s consolidated net sales for 2015 and 2014:</FONT></P>

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<TR style="HEIGHT: 15pt">

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   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Net Sales (million USD) </FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2014 </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Dif. </FONT></B></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Mexico </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,354.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,863.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-10%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Southern Region </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,567.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,641.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-3%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Other Markets </FONT></P></TD>

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   <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">905.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,159.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-22%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Total steel products net sales </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">7,827.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">8,664.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-10%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%" noWrap>

   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Other products<SUP>1</SUP> </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">47.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">35.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">33%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Steel segment net sales</FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">7,875.2 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">8,700.5 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">-9%</FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.25in">

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Mining segment net sales</FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">203.1 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">313.2 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">-35%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Intersegment eliminations </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(200.8)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(287.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 0.25in">

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Net sales</FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">7,877.4 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">8,726.1 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">-10%</FONT></P></TD></TR></TABLE>

<P style="MARGIN: 6pt 0in 0pt 7.1pt; LINE-HEIGHT: 115%; TEXT-INDENT: -7.1pt"><SUP><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">1</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT></FONT></SUP><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">The item &#8220;Other products&#8221; primarily includes pig iron.</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">8</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

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

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Cost of sales</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> was USD6.5 billion in 2015, a decrease of USD447.9 million compared to 2014. This was principally due to a USD477.2 million, or 9%, decrease in raw material and consumables used, mainly reflecting lower iron ore, coking coal, scrap, energy and purchased slabs costs, partially offset by a 2% increase in shipments; and to a USD29.3 million increase in other costs, including a USD23.0 million increase in maintenance expenses and a USD17.9 million increase in depreciation of property, plant and equipment and amortization of intangible assets, partially offset by a USD9.1 million decrease in services and fees and a USD2.9 million decrease in insurance expenses. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Selling, General &amp; Administrative (SG&amp;A) expenses</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> in 2015 were USD770.3 million, or 9.8% of net sales, a decrease of USD46.2 million compared to 2014, mainly as a result of lower labor cost, freight and transportation expenses, and services and other expenses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Other net operating income </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">in 2015 was a USD9.5 million gain, lower than the USD71.8 million gain in 2014. Other net operating income in 2014 included a USD57.5 million income recognition on insurance recovery related to Ternium&#8217;s subsidiary Siderar.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Operating income </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">in 2015 was USD639.3 million, or 8.1% of net sales, compared to operating income of USD1.1 billion, or 12.1% of net sales, in 2014.&nbsp; The following table shows Ternium&#8217;s operating income by segment for 2015 and 2014.</FONT></P>

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<TR style="HEIGHT: 32.25pt">

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT></TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 1pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Steel segment</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 1pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Mining segment</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 1pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Intersegment eliminations</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 1pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Total</FONT></B></FONT></P></TD></TR>

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   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">USD million</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 2pt" color=white face="sabon mt"></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2014</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt"></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2014</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0pt; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2014</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 1pt" color=white face="sabon mt"></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2014</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%; TEXT-INDENT: 8pt"><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Net Sales</FONT></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">7,875.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">8,700.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">203.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">313.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(200.8)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(287.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">7,877.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">8,726.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%; TEXT-INDENT: 8pt"><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Cost of sales</FONT></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(6,456.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(6,960.0)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(214.7)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(255.2)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">194.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">290.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(6,477.3)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(6,925.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%; TEXT-INDENT: 8pt"><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">SG&amp;A expenses</FONT></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(757.1)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(799.8)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(13.2)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(16.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(770.3)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(816.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%; TEXT-INDENT: 8pt"><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Other operating income (expenses), net</FONT></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">70.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">71.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Operating income (expense)</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">670.7 </FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,011.4 </FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(24.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">42.3 </FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(6.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2.4 </FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">639.3 </FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,056.2 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 7.5pt">

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%" noWrap>

   <P style="MARGIN: 2.4pt 0in; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=white face="sabon mt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">EBITDA</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,055.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,380.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">24.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">87.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(6.9)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,073.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,471.0 </FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">9</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Steel reporting segment</FONT></B></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">The steel segment&#8217;s operating income was USD670.7 million in 2015, a decrease of USD340.7 million compared to 2014, reflecting lower net sales and the above mentioned lower other net operating income, partially offset by lower operating cost.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net sales of steel products in 2015 decreased 9% compared to 2014, reflecting a USD108 decrease in steel revenue per ton shipped, partially offset by a 219,000 ton increase in shipments. Revenue per ton decreased, reflecting lower steel prices in Ternium&#180;s main steel markets, partially offset by a better product mix in Mexico. The increase in shipments in </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">2015 </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">was mainly due to higher shipments in Mexico and the Southern Region, partially offset by lower shipments in Other Markets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

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   <TD width="8%" noWrap>

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   <TD width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT></B></P></TD>

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   <TD width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT></B></P></TD>

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<TR style="HEIGHT: 15pt">

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Net Sales (million USD) </FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Shipments (thousand tons) </FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Revenue / ton (USD/ton) </FONT></B></P></TD></TR>

<TR style="HEIGHT: 23.25pt">

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2014 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Dif. </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2014 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Dif. </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2014 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Dif. </FONT></B></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Mexico </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,354.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,863.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-10%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5,933.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5,632.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">734 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">864 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-15%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Southern Region </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,567.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,641.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-3%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,552.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,510.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,006 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,052 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-4%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Other Markets </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">905.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,159.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-22%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,114.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,238.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-10%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">812 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">936 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-13%</FONT></P></TD></TR>

<TR style="HEIGHT: 4.5pt">

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Total steel products </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">7,827.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">8,664.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-10%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9,600.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9,381.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">815 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">924 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-12%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in; TEXT-INDENT: 8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Other products<SUP>1</SUP> </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">47.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">35.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">33%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4.5pt">

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 0.25in">

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Steel segment</FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">7,875.2 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">8,700.5 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">-9%</FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" colSpan=7 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"><SUP>1</SUP> The item &#8220;Other products&#8221; primarily includes pig iron.</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 26.95pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Operating cost decreased 7% due to a 9% decrease in operating cost per ton, partially offset by a 2% increase in shipments. The decrease in operating cost per ton was mainly due to lower raw material, purchased slabs and energy costs.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Mining reporting segment</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">The mining segment&#8217;s operating result was a loss of USD24.5 million in 2015, compared to a USD42.3 million gain in 2014, mainly reflecting lower iron ore sales, partially offset by a lower operating cost.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net sales of mining products in 2015 were 35% lower than in 2014, reflecting a 31% lower revenue per ton and 6% lower shipments.</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Mining segment</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">2014 </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">Dif. </FONT></B></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Net Sales (million USD)</FONT></P></TD>

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   <P style="MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">203.1</FONT></P></TD>

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   <P style="MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">313.2</FONT></P></TD>

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   <P style="MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">-35%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Shipments (thousand tons)</FONT></P></TD>

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   <P style="MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">3,635.6 </FONT></P></TD>

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   <P style="MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">3,857.3 </FONT></P></TD>

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   <P style="MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">-6%</FONT></P></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">Revenue per ton (USD/ton)</FONT></P></TD>

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   <P style="MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">56 </FONT></P></TD>

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   <P style="MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">81 </FONT></P></TD>

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   <P style="MARGIN: 2.4pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">-31%</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Operating cost decreased 16% year-over-year, mainly due to the above mentioned 6% decrease in shipment volumes and an 11% decrease in operating cost per ton. The decrease in operating cost per ton was mainly the result of lower energy costs and freight and transportation expenses. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">EBITDA</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> in 2015 was USD1.1 billion, or 13.6% of net sales, compared with USD1.5 billion, or 16.9% of net sales, in 2014.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">10</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net financial results </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">were a USD99.4 million loss in 2015, compared with a USD69.5 million loss in 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Ternium&#8217;s net interest results totaled a loss of USD81.5 million in 2015, compared to a loss of USD110.2 million in 2014, reflecting lower average indebtedness and weighted average interest rates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net foreign exchange results were a loss of USD5.2 million in 2015 compared to a gain of USD26.7 million in 2014. The loss in 2015 was primarily associated with the negative impact of the Argentine Peso&#8217;s 34% depreciation against the U.S. dollar on Ternium&#8217;s Argentine subsidiary Siderar&#8217;s net short U.S. dollar position as above mentioned (Siderar&#8217;s functional currency is the Argentine Peso), partially offset by the effect of the Mexican Peso&#8217;s 14% depreciation against the U.S. dollar on a net short local currency position in Ternium Mexican subsidiaries (Ternium Mexican subsidiaries functional currency is the U.S. dollar).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Change in fair value of financial instruments included in net financial results was a USD10.2 million loss in 2015 compared with a USD17.8 million gain in 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Equity in results of non-consolidated companies</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> was a loss of USD272.8 million in 2015, compared to a loss of USD751.8 million in 2014. Both years were affected by impairments to the recoverable value of Ternium&#8217;s investment in Usiminas, of USD191.9 million and USD739.8 million in 2015 and 2014, respectively.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Income tax expense</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> in 2015 was USD207.3 million, compared to an income tax expense of USD339.1 million in 2014. The relatively high effective tax rate on both periods was mainly due to non-taxable losses stemming from the investment in Usiminas and to the depreciation of the Mexican peso against the U.S. dollar, which reduces, in U.S. dollar terms, the tax base used to calculate deferred tax at our Mexican subsidiaries (which have the U.S. dollar as their functional currency), among other non-cash effects on deferred taxes.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net gain attributable to non-controlling interest</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> in 2015 was USD51.7 million, compared to a net gain of USD94.6 million in 2014, mainly due to a lower result attributable to non-controlling interest in Siderar.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Cash Flow and Liquidity</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net cash provided by operating activities in the year 2015 was USD1.3 billion.&nbsp; Working capital decreased by USD509.1 million in the year 2015 as a result of a USD349.7 million decrease in inventories, an aggregate USD125.7 million net decrease in trade and other receivables and an aggregate USD33.8 million net increase in accounts payable and other liabilities. Inventories decreased in the year 2015, mainly reflecting lower costs of purchased steel, raw materials, goods in process and finished goods, as well as overall lower inventory volumes, partially offset by higher inventory volumes of purchased steel.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Capital expenditures in the year 2015 were USD466.6 million, slightly higher than capital expenditures in 2014. The main investments carried out during the period included, in Mexico, those made for the upgrade of hot-rolling and galvanizing mills, and the revamping of steel making and iron ore reduction facilities and, in Argentina, those made for the expansion and enhancement of the coking facilities, the upgrade of the hot-rolling mill and the enhancement of the steelmaking facilities.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">11</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">In the year 2015, Ternium had free cash flow of USD856.8 million<SUP>8</SUP></FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">. During the year the company acquired the remaining minority stake in Ferrasa for USD74.0 million. In addition, Ternium&#8217;s net repayment of borrowings in the year 2015 was USD557.1 million.&nbsp; Net dividends paid to shareholders were USD176.7 million and net dividends paid by subsidiaries to non-controlling interest were USD32.7 million. As of December 31, 2015, Ternium&#8217;s net debt position was USD1.1 billion<SUP>9</SUP></FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net cash provided by operating activities in the fourth quarter 2015 was USD313.5 million.&nbsp; Working capital decreased by USD49.4 million in the fourth quarter 2015 as a result of an aggregate USD148.6 million decrease in trade and other receivables and a USD48.0 million decrease in inventories, partially offset by an aggregate USD147.2 million decrease in accounts payable and other liabilities. Inventories decreased in the fourth quarter 2015 mainly reflecting overall lower costs and lower inventory volumes of raw materials and finished goods, partially offset by higher inventory volumes of purchased steel and goods in process. Capital expenditures in the fourth quarter 2015 were USD123.8 million, compared to capital expenditures of USD108.7 million in the fourth quarter 2014. Ternium had free cash flow of USD189.6 million<SUP>10</SUP> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">in the period.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Forward Looking Statements</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt"><I><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Some of the statements contained in this press release are &#8220;forward-looking statements&#8221;.&nbsp; Forward-looking statements are based on management&#8217;s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements.&nbsp; These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products and other factors beyond Ternium&#8217;s control.</FONT></I></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>About Ternium</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Ternium is a leading steel producer in Latin America, with an annual production capacity of approximately 11.0 million tons of finished steel products. The company manufactures and processes a broad range of value-added steel products for customers active in the construction, automotive, home appliances, capital goods, container, food and energy industries.&nbsp; With production facilities located in Mexico, Argentina, Colombia, the southern United States and Guatemala, Ternium serves markets in the Americas through its integrated manufacturing system and extensive distribution network.&nbsp; In addition, Ternium participates in the control group of Usiminas, a Brazilian steel company.&nbsp; More information about Ternium is available at www.ternium.com.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"><SUP>8</SUP> Free cash flow in the year 2015 equals net cash provided by operating activities of USD1.3 billion less capital expenditures of USD466.6 million.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"><SUP>9</SUP> </FONT>Net debt position at December 31, 2015 equals borrowings of USD1.5 billion less cash and equivalents plus other investments of USD0.4 billion.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"><SUP>10</SUP> </FONT>Free cash flow in the fourth quarter 2015 equals net cash provided by operating activities of USD313.5 million less capital expenditures of USD123.8 million.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">12</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

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<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Consolidated Income Statement</FONT></B></P>

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   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">USD million</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2014</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.75pt">

   <TD style="HEIGHT: 5.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Net sales</FONT></P></TD>

   <TD style="HEIGHT: 5.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,809.9 </FONT></P></TD>

   <TD style="HEIGHT: 5.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,154.6 </FONT></P></TD>

   <TD style="HEIGHT: 5.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">7,877.4 </FONT></P></TD>

   <TD style="HEIGHT: 5.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">8,726.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Cost of sales</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,438.4)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,765.1)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(6,477.3)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(6,925.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.9pt">

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Gross profit</FONT></P></TD>

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">371.6 </FONT></P></TD>

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">389.5 </FONT></P></TD>

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,400.2 </FONT></P></TD>

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,800.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.6pt">

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Selling, general and administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(180.1)</FONT></P></TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(201.7)</FONT></P></TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(770.3)</FONT></P></TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(816.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other operating income, net</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.1 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">3.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">71.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 19.8pt">

   <TD style="HEIGHT: 19.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Operating income</FONT></P></TD>

   <TD style="HEIGHT: 19.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 19.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">191.6 </FONT></P></TD>

   <TD style="HEIGHT: 19.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 19.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">191.3 </FONT></P></TD>

   <TD style="HEIGHT: 19.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 19.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">639.3 </FONT></P></TD>

   <TD style="HEIGHT: 19.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 19.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,056.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 8.25pt">

   <TD style="HEIGHT: 8.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 13.6pt">

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Finance expense</FONT></P></TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(17.6)</FONT></P></TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(28.0)</FONT></P></TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(89.5)</FONT></P></TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(117.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Finance income</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2.1 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1.7 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">8.0 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">7.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other financial (expenses) income, net</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(38.0)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">35.0 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(17.9)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">40.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Equity in losses of non-consolidated companies</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(213.4)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(5.3)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(272.8)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(751.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.35pt">

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">(Loss) Profit before income tax expense</FONT></P></TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(75.3)</FONT></P></TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">194.7 </FONT></P></TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">267.1</FONT></P></TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">234.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 23.25pt">

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Income tax expense</FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(51.2)</FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(123.3)</FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(207.3)</FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(339.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 0.25in">

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">(Loss) Profit for the period</FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(126.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">71.4 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">59.8</FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(104.2)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 0.25in">

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Attributable to:</FONT></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Owners of the parent</FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">(126.2)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">53.0 </FONT></B></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">8.1 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(198.8)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Non-controlling interest</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(0.3)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">18.3 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">51.7 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">94.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 0.25in">

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">(Loss) Profit for the period</FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">(126.5)</FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">71.4 </FONT></B></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">59.8 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 0.25in; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(104.2)</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">13</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

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



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

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<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Consolidated Statement of Financial Position</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 11.5pt">&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 33pt">

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">USD million</FONT></B></P></TD>

   <TD style="HEIGHT: 33pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 33pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">December 31, <BR>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 33pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 33pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">December 31, <BR>2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.45pt">

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 6pt">

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 8.45pt">

   <TD style="HEIGHT: 8.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Property, plant and equipment, net</FONT></P></TD>

   <TD style="HEIGHT: 8.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,207.6 </FONT></P></TD>

   <TD style="HEIGHT: 8.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,481.0 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Intangible assets, net</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">888.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">948.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Investments in non-consolidated companies</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">250.4</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">748.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Deferred tax assets</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">98.1 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">115.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Receivables, net</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">36.1 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">47.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Trade receivables, net</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.7pt">

   <TD style="HEIGHT: 14.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total non-current assets</FONT></P></TD>

   <TD style="HEIGHT: 14.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5,480.4</FONT></P></TD>

   <TD style="HEIGHT: 14.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">6,341.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Receivables</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">89.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">112.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1.8 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Inventories, net</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,579.1 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,134.0 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Trade receivables, net</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">511.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">720.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other investments</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">237.2</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">150.0 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">151.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">213.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total current assets</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,570.5</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">3,334.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.3pt">

   <TD style="HEIGHT: 12.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Non-current assets classified as held for sale</FONT></P></TD>

   <TD style="HEIGHT: 12.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">11.7 </FONT></P></TD>

   <TD style="HEIGHT: 12.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">14.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.2pt">

   <TD style="HEIGHT: 16.2pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Total assets</FONT></B></P></TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.2pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">8,062.6</FONT></B></P></TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.2pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">9,690.2 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 9.4pt">

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Capital and reserves attributable to the owners of the parent</FONT></P></TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,033.1</FONT></P></TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,697.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Non-controlling interest</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">769.8</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">937.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 14.9pt">

   <TD style="HEIGHT: 14.9pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Total Equity</FONT></B></P></TD>

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.9pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">4,803.0</FONT></B></P></TD>

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.9pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">5,634.7 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 6.6pt">

   <TD style="HEIGHT: 6.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Provisions</FONT></P></TD>

   <TD style="HEIGHT: 6.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">8.1 </FONT></P></TD>

   <TD style="HEIGHT: 6.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Deferred tax liabilities</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">609.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">670.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other liabilities</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">320.7 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">371.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">13.4 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">12.0 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Borrowings</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">607.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">900.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 18.75pt">

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total non-current liabilities</FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,559.0 </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,964.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Current income tax liabilities</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">41.1 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">51.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other liabilities</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">156.7 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">210.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">568.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">564.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">20.6 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Borrowings</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">913.8 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,264.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total current liabilities</FONT></P></TD>

   <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,700.6 </FONT></P></TD>

   <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,091.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.2pt">

   <TD style="HEIGHT: 15.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total liabilities</FONT></P></TD>

   <TD style="HEIGHT: 15.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">3,259.6</FONT></P></TD>

   <TD style="HEIGHT: 15.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,055.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Total equity and liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">8,062.6</FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">9,690.2 </FONT></B></P></TD></TR></TABLE></DIV>

<a name="_bclFooter16"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">14</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

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



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

<A name="page_17"></A>

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

<a name="_bclHeader17"></a><DIV></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Consolidated Statement of Cash Flows</FONT></B></P>

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

<DIV align=right>

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



<TR style="HEIGHT: 23.25pt">

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">USD million </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2014 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 3.75pt">

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">(Loss) Profit for the period </FONT></P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(126.5)</FONT></P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">71.4 </FONT></P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">59.8</FONT></P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(104.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 4.95pt">

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Adjustments for:</FONT></P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 7.15pt">

   <TD style="HEIGHT: 7.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Depreciation and amortization </FONT></P></TD>

   <TD style="HEIGHT: 7.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">105.5 </FONT></P></TD>

   <TD style="HEIGHT: 7.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">109.6 </FONT></P></TD>

   <TD style="HEIGHT: 7.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">433.8 </FONT></P></TD>

   <TD style="HEIGHT: 7.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">414.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

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   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Equity in losses of non-consolidated companies</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">213.4</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5.3 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">272.8</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">751.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Changes in provisions </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.6 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1.6)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">3.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

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   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Net foreign exchange results and others </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">44.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(4.3)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">61.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">28.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Interest accruals less payments </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">6.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.4 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Income tax accruals less payments </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">20.4 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">25.3 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(23.9)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(39.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Results on the sale of participation in subsidiary company</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1.7 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Changes in working capital </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">49.4 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">509.1 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(551.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.35pt">

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Net cash provided by operating activities </FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt"></FONT></B><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">313.5</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">208.3 </FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,323.5</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">505.8 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.7pt">

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Capital expenditures </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(123.8)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(108.7)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(466.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(443.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Proceeds from the sale of property, plant &amp; equipment </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">0.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Sale of participation in subsidiary company, net of cash disposed</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(0.7)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Acquisition of business/stake - Purchase consideration Usiminas</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(249.0)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(249.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Investment in non-consolidated companies - Techgen</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(9.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(9.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(3.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Loans granted to non-consolidated companies - Techgen</FONT></P></TD>

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   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(10.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(10.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">(Increase) Decrease in Other Investments</FONT></P></TD>

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   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(86.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(46.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(85.9)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">18.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

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   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.35pt">

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Net cash used in investing activities </FONT></B></P></TD>

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   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">(229.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(403.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(572.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(675.8)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 5.9pt">

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 3.3pt">

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   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Dividends paid in cash to company's shareholders </FONT></P></TD>

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   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(176.7)</FONT></P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(147.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 18.75pt">

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   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Dividends paid in cash to non-controlling interest</FONT></P></TD>

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   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(32.7)</FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(33.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

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   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Acquisition of non-controlling interest</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(74.0)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT></P>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Contributions from non-controlling shareholders in consolidated subsidiaries </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">30.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">- </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Proceeds from borrowings </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">141.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">257.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">822.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,038.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 5pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Repayments of borrowings </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(271.0)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(191.9)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,379.7)</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(773.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.35pt">

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Net cash (used in) provided by financing activities</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt"></FONT></B><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(129.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">65.3 </FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(809.6)</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">84.6 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.8pt">

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.35pt">

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Decrease in cash and cash equivalents</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt"></FONT></B><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(46.4)</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(130.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(58.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(85.4)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<a name="_bclFooter17"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">15</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></DIV>

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



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

<A name="page_18"></A>

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

<a name="_bclHeader18"></a><DIV></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<DIV align=left>

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



<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=8 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Shipments </FONT></B></P></TD></TR>

<TR style="HEIGHT: 23.25pt">

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Thousand tons </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2014 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">3Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.8pt">

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Mexico </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,406.7 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,425.3 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,532.9 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5,933.4 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5,632.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Southern Region </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">643.6 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">640.8 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">641.4 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,552.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,510.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other Markets </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">259.3 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">288.0 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">288.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,114.6 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,238.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.9pt">

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total steel segment </FONT></P></TD>

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,309.6 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,354.1 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,462.6 </FONT></P></TD>

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9,600.3 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9,381.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 0.25in">

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total mining segment </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">906.1 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,021.9 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">891.5 </FONT></P></TD>

   <TD style="HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">3,635.6 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 0.25in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">3,857.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 9.95pt">

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=8 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Revenue / ton </FONT></B></P></TD></TR>

<TR style="HEIGHT: 23.25pt">

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">USD/ton </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2014 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">3Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Mexico </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">678 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">853 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">695 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">734 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">864 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Southern Region </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,010 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,041 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,010 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,006 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,052 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other Markets </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">770 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">894 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">777 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">812 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">936 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.6pt">

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total steel segment </FONT></P></TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">781 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">909 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">787 </FONT></P></TD>

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">815 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">924 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="HEIGHT: 16.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total mining segment </FONT></P></TD>

   <TD style="HEIGHT: 16.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">50 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">70 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">57 </FONT></P></TD>

   <TD style="HEIGHT: 16.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">56 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">81 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=8 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Net Sales </FONT></B></P></TD></TR>

<TR style="HEIGHT: 23.25pt">

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">USD million </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2014 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">3Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.95pt">

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Mexico </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">954.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,215.8 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,065.3 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,354.8 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4,863.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Southern Region </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">650.3 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">667.0 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">648.0 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,567.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,641.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other Markets </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">199.6 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">257.3 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">224.1 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">905.4 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,159.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total steel products </FONT></P></TD>

   <TD style="HEIGHT: 12.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,804.1 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,140.1 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,937.3 </FONT></P></TD>

   <TD style="HEIGHT: 12.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">7,827.4 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">8,664.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 18.75pt">

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other products<SUP>1</SUP> </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">5.3 </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9.6 </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">7.7 </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">47.7 </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">35.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 16.9pt">

   <TD style="HEIGHT: 16.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total steel segment </FONT></P></TD>

   <TD style="HEIGHT: 16.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,809.4 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,149.7 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,945.0 </FONT></P></TD>

   <TD style="HEIGHT: 16.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">7,875.2 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">8,700.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 7pt">

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total mining segment </FONT></P></TD>

   <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">45.4 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">71.4 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">51.1 </FONT></P></TD>

   <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">203.1 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">313.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 17.5pt">

   <TD style="HEIGHT: 17.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total steel and mining segments </FONT></P></TD>

   <TD style="HEIGHT: 17.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 17.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,854.8 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 17.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,221.1 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 17.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,996.1 </FONT></P></TD>

   <TD style="HEIGHT: 17.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 17.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">8,078.3 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 17.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">9,013.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 7.65pt">

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 14.1pt">

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Intersegment eliminations </FONT></P></TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(44.8)</FONT></P></TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(66.5)</FONT></P></TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(50.7)</FONT></P></TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(200.8)</FONT></P></TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(287.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.95pt">

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 17.3pt">

   <TD style="HEIGHT: 17.3pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Total net sales </FONT></B></P></TD>

   <TD style="HEIGHT: 17.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 17.3pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,809.9 </FONT></B></P></TD>

   <TD style="HEIGHT: 17.3pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2,154.6 </FONT></B></P></TD>

   <TD style="HEIGHT: 17.3pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,945.4 </FONT></B></P></TD>

   <TD style="HEIGHT: 17.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 17.3pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">7,877.4 </FONT></B></P></TD>

   <TD style="HEIGHT: 17.3pt; BACKGROUND: #969696; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">8,726.1 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 6pt 0in 0pt 7.1pt; LINE-HEIGHT: 115%; TEXT-INDENT: -7.5pt"><SUP><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">1</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT></FONT></SUP><FONT style="LINE-HEIGHT: 115%" face="sabon mt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">The item &#8220;Other products&#8221; primarily includes pig iron.</FONT></FONT></P>

<DIV><FONT lang=PT-BR><BR clear=all></FONT></DIV></DIV>

<a name="_bclFooter18"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 9pt; TEXT-INDENT: -9pt" align=right><FONT style="DISPLAY: none" face="sabon mt"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt">16</FONT><FONT style="DISPLAY: none"><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="sabon mt"></FONT></FONT><SUP><FONT color=black face="sabon mt"></FONT></SUP></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
