<SEC-DOCUMENT>0001292814-16-004346.txt : 20160427
<SEC-HEADER>0001292814-16-004346.hdr.sgml : 20160427
<ACCEPTANCE-DATETIME>20160427145150
ACCESSION NUMBER:		0001292814-16-004346
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160331
FILED AS OF DATE:		20160427
DATE AS OF CHANGE:		20160427

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:		161594770

	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>terniumpr1q16_6k.htm
<DESCRIPTION>TERNIUM ANNOUNCES FIRST QUARTER 2016 RESULTS
<TEXT>

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

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

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

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

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

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<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 13pt" face="times new roman">As of 4/26/2016</FONT></B></H1>

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

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

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 2.45pt 0pt 0cm; 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: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

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

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

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

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

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

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

<P style="MARGIN: 0cm 0cm 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 first quarter 2016 results.</FONT></P>

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

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

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

<P style="MARGIN: 0cm 0cm 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>

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

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

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 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: 0cm 0cm 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 style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman">By: </FONT><U><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman">/s/ Pablo Brizzio</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By: </FONT><U><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman">/s/ Daniel Novegil</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman">Name: Pablo Brizzio&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name: Daniel Novegil</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="Times New Roman">Title: Chief Financial Officer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Chief Executive Officer</FONT></P>

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

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<P style="MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 11.5pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">Dated: April 26, 2016</FONT></P>

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

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=tradegothic>Ternium - Investor Relations</FONT></B></P>

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

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=tradegothic>+54 (11) 4018 2389</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=tradegothic>www.ternium.com</FONT></P>

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<P style="MARGIN: 8pt 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 16pt" color=#ff3300 face=tradegothic>Ternium Announces First Quarter 2016 Results</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Luxembourg, April 26, 2016 &#8211; Ternium S.A. (NYSE: TX) today announced its results for the first quarter ended March 31, 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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: 0cm 0cm 0pt"><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="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Summary of First Quarter 2016 Results </FONT></B></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=white face="sabon mt">1Q 2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 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: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=white face="sabon mt">1Q 2015</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 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: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">2,431,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">5%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">2,431,000</FONT></P></TD>

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

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

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">834,000</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-8%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">965,000</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-13%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">1,655.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">2,126.1 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">-22%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 11pt" face="sabon mt">202.4</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"> </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">204.1 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">303.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">313.4 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">-3%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">124.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">128.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">18.3%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">14.7%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">(9.5)</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">123.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">95.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">94.4 </FONT></P></TD>

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

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">68.5</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 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: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">0.48</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">0.35</FONT></P></TD>

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

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.7pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">EBITDA of USD303.0 million in the first quarter 2016, 2% higher than in the fourth quarter 2015 as a result of an increase in shipments, partially offset by slightly lower EBITDA per ton.</FONT></P>

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<LI style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Earnings per American Depositary Share (ADS)</FONT><SUP> <SUP><SUP><U>[3]</U></SUP></SUP></SUP><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt"> of USD0.48 in the first quarter 2016. </FONT>

<LI style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Capital expenditures of USD97.8 million in the first quarter 2016, compared to USD123.8 million in the fourth quarter 2015.</FONT> </LI></UL>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT style="VERTICAL-ALIGN: super"><FONT style="VERTICAL-ALIGN: 0px"><FONT lang=ES-AR style="FONT-SIZE: 10pt; COLOR: #000000" face="sabon mt">[1]</FONT></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"> </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face="sabon mt">EBITDA in the first quarter 2016 equals operating income of USD202.4 million adjusted to exclude depreciation and amortization of USD100.7 million.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT style="VERTICAL-ALIGN: super"><FONT style="VERTICAL-ALIGN: 0px"><FONT lang=ES-AR style="FONT-SIZE: 10pt" color=blue face="sabon mt"><FONT style="COLOR: #000000">[2]</FONT></FONT></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 10pt" face="Times New Roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face="sabon mt">Consolidated EBITDA divided by steel shipments.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="MARGIN: 0cm 0cm 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT style="VERTICAL-ALIGN: super"><FONT style="VERTICAL-ALIGN: 0px"><FONT lang=ES-AR style="FONT-SIZE: 10pt" color=blue face="sabon mt"><FONT style="COLOR: #000000">[3]</FONT></FONT></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="Times New Roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">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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<LI style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net debt position of USD1.0 billion at the end of March 2016,</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face="sabon mt"> down from USD1.1 billion at the end of December</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 1.0 time net debt to last twelve months EBITDA.</FONT>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Ternium&#8217;s operating income in the first quarter 2016 was USD202.4 million, slightly higher compared to the fourth quarter 2015 due to a 121,000 tons increase in shipments and relatively stable operating margin</FONT><SUP> <SUP><SUP><U>[4]</U></SUP></SUP></SUP><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">, as a USD102 lower steel revenue per ton was offset by an equivalent decrease in operating cost per ton</FONT><SUP> <SUP><SUP><U>[5]</U></SUP></SUP></SUP><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">. Steel revenue per ton decreased principally due to lower realized steel prices in Ternium&#8217;s main steel markets. The decrease in operating cost per ton was, in Mexico, mainly the result of lower costs of purchased slabs, raw materials and energy, and, in Argentina, principally due to the consumption of previously produced inventories, the U.S. dollar value of which was reduced by the significant Argentine peso depreciation at the end of December 2015.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Compared to the first quarter 2015, the company&#8217;s operating income in the first quarter 2016 was stable on similar operating margin and shipments, as a USD190 decrease in steel revenue per ton was offset by an equivalent decrease in operating cost per ton. 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. The reasons for the decrease in operating cost per ton were the same as in the sequential comparison.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">The company&#8217;s net result in the first quarter 2016 was a gain of USD123.6 million, compared to a loss of USD126.5 million in the fourth quarter 2015, a period that included a USD191.9 million impairment charge on Ternium&#8217;s investment in Usiminas. Net financial results improved USD31.7 million sequentially, mainly as a result of USD14.9 million better results from changes in fair value of financial instruments and USD11.0 million lower net foreign exchange losses, principally in Ternium&#8217;s Argentine subsidiary Siderar in connection with a lower devaluation rate of the Argentine Peso in the first quarter 2016 than in the fourth quarter 2015.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Relative to the prior-year-period, net income in the first quarter 2016 increased by USD27.8 million mainly due to lower income tax expense and better result from non-consolidated companies, partially offset by higher financial expenses.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Investment in New Galvanizing Plant in Mexico</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Tenigal SRL de CV (Tenigal), a joint venture between Ternium and Nippon Steel &amp; Sumitomo Metal Corporation (NSSMC) in Mexico, will double its capacity for the manufacturing of hot-dip galvanized and galvannealed steel sheets to serve the Mexican industrial and automotive markets.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Ternium and NSSMC have agreed that, once completed the facility and technical studies, Tenigal will build a second hot-dip galvanizing line with yearly production capacity of 430,000 metric tons. The new facility is expected to start production in 2019, will be located in Ternium&#8217;s industrial center in Pesqueria, in the vicinity of Monterrey City, and will take Tenigal&#8217;s annual production capacity to 830,000 metric tons, at a cost of approximately USD300 million.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">The Mexican automotive industry is among the fastest growing automotive industries in the world. With a light vehicle production of 3.4 million units in 2015, the Mexican auto industry&#8217;s production is expected to reach 4.9 million units by 2020.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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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<DIV id=ftn4><FONT lang=PT-BR></FONT>

<P style="MARGIN: 0cm 0cm 0pt"><FONT style="VERTICAL-ALIGN: super"><FONT style="VERTICAL-ALIGN: 0px"><FONT lang=ES-AR style="FONT-SIZE: 10pt; COLOR: #000000" face="sabon mt">[4]</FONT></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"> </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">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: 0cm 0cm 0pt"><FONT style="VERTICAL-ALIGN: super"><FONT style="VERTICAL-ALIGN: 0px"><FONT lang=ES-AR style="FONT-SIZE: 10pt" color=blue face="sabon mt"><FONT style="COLOR: #000000">[5]</FONT></FONT></FONT></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"> </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">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: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Following record steel shipments in Mexico in the first quarter 2016, Ternium expects a moderate sequential increase in steel shipments in the country in the second quarter of the year. The company anticipates continued strong demand in Mexico&#8217;s automotive industry for high-value-added products and an overall volume improvement in commercial markets after some inventory destocking in the first quarter 2016. In addition, the steel price environment in the U.S. has continued to improve over the past few months, supported by inventory decreases in the value chain, discipline in mills' capacity utilization, a decline in imports and an uptrend in international steel prices.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">After a relatively weak first quarter, in part related to seasonality, the Argentine steel market is in the process of adjusting to a period of slower economic activity. Consequently, Ternium does not expect an improvement in shipments to this market in the second quarter 2016. In addition, the company anticipates realized steel prices in the Argentine market to remain relatively stable in the second quarter, after a significant decrease following a sharp devaluation of the local currency at the end of December 2015.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Ternium expects a sequentially higher operating income in the second quarter 2016 as a result of slightly higher shipments and EBITDA per ton. The company anticipates that a sequential increase in average realized prices in the second quarter of the year, on account of the improvement in the steel price environment, will be partially offset by a moderate increase in cost per ton, mostly due to higher costs in Argentina as the effect of the Argentine peso&#8217;s devaluation on inventories gradually dissipates.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=tradegothic>Analysis of First Quarter 2016 Results </FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net gain</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 first quarter 2016 was USD94.4 million, compared to net gain attributable to Ternium&#8217;s equity owners of USD68.5 million in the first quarter 2015</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 gain for the first quarter 2016 was USD123.6 million, compared to net gain of USD95.8 million in the first quarter 2015. Earnings per ADS in the first quarter 2016 were USD0.48, compared to earnings per ADS of USD0.35 in the first quarter 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 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">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 were USD1.7 billion, or 22% lower than net sales in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015. 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">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 and the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" 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 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">1Q 2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">1Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" 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" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt" noWrap>

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

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">990.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,238.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>

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

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt" noWrap>

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

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">464.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">631.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-27%</FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt" noWrap>

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

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">196.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">241.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BORDER-BOTTOM: windowtext 1pt solid" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-19%</FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt" noWrap>

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

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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">1,650.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,111.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>

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

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="MARGIN: 2.4pt 0cm; 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" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">13.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-68%</FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 18pt">

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><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: 18pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,655.1 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2,125.5 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

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

   <TD style="HEIGHT: 18pt" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 7.2pt">

   <TD style="HEIGHT: 7.2pt" noWrap>

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

   <TD style="HEIGHT: 7.2pt" noWrap>

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

   <TD style="HEIGHT: 7.2pt" noWrap>

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

   <TD style="HEIGHT: 7.2pt" noWrap>

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

   <TD style="HEIGHT: 7.2pt" noWrap>

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

   <TD style="HEIGHT: 7.2pt" noWrap>

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

<TR style="HEIGHT: 18pt">

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

   <P style="MARGIN: 2.4pt 0cm"><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: 18pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">43.8 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">57.0 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">-23%</FONT></P></TD>

   <TD style="HEIGHT: 18pt" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt" noWrap>

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

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(43.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(56.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 18pt">

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

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

   <TD style="HEIGHT: 18pt" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,655.5 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2,126.1 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696" noWrap>

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

   <TD style="HEIGHT: 18pt" noWrap>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 6pt 0cm 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 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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 USD1.3 billion in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016, a decrease of USD441.5 million compared to the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015. This was principally due to a USD393.4 million, or 29%, decrease in raw material and consumables used, mainly reflecting lower iron ore, coking coal, scrap, energy and purchased slabs costs; and to a USD48.1 million decrease in other costs, mainly including a USD26.2 million decrease in labor cost, a USD12.4 million decrease in maintenance expenses, a USD9.0 million decrease in depreciation of property, plant and equipment and amortization of intangible assets, and a USD1.5 million decrease in services and fees. In Argentina, cost per ton decreased significantly year-over-year, in part as a result of the effect of the Argentine peso depreciation on the U.S. dollar value of Ternium&#8217;s Argentine subsidiary&#8217;s inventory as of the end of December 2015.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 were USD164.0 million, or 9.9% of net sales, a decrease of USD33.4 million compared to SG&amp;A expenses in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015 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: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 was USD202.4 million, or 12.2% of net sales, compared to operating income of USD204.1 million, or 9.6% of net sales, in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015. 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">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 and </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015:</FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 3.5pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 32.25pt">

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%"><FONT style="LINE-HEIGHT: 115%" face="times new roman"></FONT></TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 1pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" colSpan=6>

   <P style="MARGIN: 1pt 0cm; LINE-HEIGHT: 115%"><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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" colSpan=7>

   <P style="MARGIN: 1pt 0cm; LINE-HEIGHT: 115%"><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 0cm; LINE-HEIGHT: 115%"><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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 32.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" colSpan=2>

   <P style="MARGIN: 1pt 0cm; 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>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; PADDING-RIGHT: 0cm" width="8%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 23.25pt">

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm; 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">1Q 2016</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm; 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">1Q 2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm; 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">1Q 2016</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm; 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">1Q 2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm; 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">1Q 2016</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm; 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">1Q 2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm; 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">1Q 2016</FONT></B></FONT></P></TD>

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

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm; 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">1Q 2015</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 2.4pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,655.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,125.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">43.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">57.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(43.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(56.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,655.5 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,126.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 2.4pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,283.0)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,720.2)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(48.0)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(58.0)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">44.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">49.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,286.8)</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1,728.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 2.4pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(161.3)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(2.7)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(3.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(164.0)</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(197.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 2.4pt 0pt 2.4pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(1.4)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">(2.3)</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">3.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" noWrap>

   <P style="MARGIN: 2.4pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">209.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">215.3 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(8.3)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(4.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">0.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(6.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">202.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">204.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 7.5pt">

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=2 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=4 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" noWrap>

   <P style="MARGIN: 2.4pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">298.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">312.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">3.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">0.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">(6.6)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">303.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">313.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 6.75pt">

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" colSpan=3 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" colSpan=2 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%" colSpan=3 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" colSpan=2 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" colSpan=5 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD></TR>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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">4</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: 0cm 0cm 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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<a name="_bclHeader7"></a><DIV>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Steel reporting segment</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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: 0cm 0cm 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">The steel segment&#8217;s operating income was USD209.8 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016, a decrease of USD5.5 million compared to the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.2pt"><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">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 decreased 22% compared to the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, reflecting a USD190 decrease in steel revenue per ton shipped and stable shipments. Revenue per ton decreased 22%, reflecting lower steel prices in Ternium&#180;s main steel markets, partially offset by a better product mix. Shipments were stable year-over-year in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 mainly due to higher shipments in Mexico offset by lower shipments in the Southern Region.</FONT></P>

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

<DIV align=left>

<TABLE style="BORDER-COLLAPSE: collapse; MARGIN-LEFT: 17.7pt; WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" colSpan=2 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">1Q 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">1Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">1Q 2016</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">1Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0pt 2.4pt 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">1Q 2016</FONT></B></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">1Q 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">990.5 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,238.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" colSpan=2 noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,596.6 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,536.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">620 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">806 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-23%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 2.4pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">464.1 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">631.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-27%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" colSpan=2 noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">559.0 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">622.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">830 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,014 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-18%</FONT></P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 2.4pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">196.0 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">241.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-19%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" colSpan=2 noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">274.8 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">272.2 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">713 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">888 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

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

<TR style="HEIGHT: 4.5pt">

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" colSpan=2 noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">1,650.6 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,111.7 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" colSpan=2 noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,430.5 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">2,430.9 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">679 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">869 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

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

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 2.4pt 0cm; 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">4.4 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">13.8 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" face="sabon mt">-68%</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" colSpan=2 noWrap>&nbsp;</TD>

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

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4.5pt">

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" colSpan=2 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>&nbsp;</TD>

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

   <TD style="HEIGHT: 4.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 18pt">

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

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

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">1,655.1 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 8pt" color=white face="sabon mt">2,125.5 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

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

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="4%" colSpan=2 noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>&nbsp;</TD>

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<TR style="HEIGHT: 12.1pt">

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   <P style="MARGIN: 0cm 0cm 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>

<TR>

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   <TD width="8%">&nbsp;</TD>

   <TD width="6%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt 26.95pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Operating cost decreased 25% year-over-year in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016, mainly as a result of lower raw material, purchased slabs and energy costs, as well as to the effect of the Argentine peso depreciation on the U.S. dollar value of Ternium&#8217;s Argentine subsidiary&#8217;s inventory as of the end of December 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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: 0cm 0cm 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: 0cm 0cm 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Mining reporting segment</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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: 0cm 0cm 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">The mining segment&#8217;s operating income was a loss of USD8.3 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016, compared to a loss of USD4.6 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, mainly reflecting lower net sales partially offset by a lower operating cost.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.2pt"><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">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 were 23% lower than net sales in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, mainly as a result of lower revenue per ton and lower shipments. Shipments were 834,000 tons, 13% lower than in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015. </FONT></P>

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

<DIV align=left>

<TABLE style="BORDER-COLLAPSE: collapse; MARGIN-LEFT: 17.7pt; WIDTH: 229.9pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15pt">

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

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

<TR style="HEIGHT: 23.25pt">

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

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

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">1Q 2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 2.4pt 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=white face="sabon mt">1Q 2015 </FONT></B></P></TD>

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

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<TR style="HEIGHT: 15pt">

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

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

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">43.8</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">57.0</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">-23%</FONT></P></TD>

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

<TR style="HEIGHT: 15pt">

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

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">834.4</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">964.6</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">-13%</FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">53</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="sabon mt">59</FONT></P></TD>

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

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

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Operating cost decreased 17% year-over-year, mainly due to the above mentioned 13% decrease in shipment volumes and a 4% decrease in operating cost per ton. The decrease in operating cost per ton was mainly the result of lower energy costs.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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="MARGIN: 0cm 0cm 0pt 0pt"><FONT style="POSITION: relative"></FONT><FONT lang=ES-AR style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 was USD303.0 million, or 18.3% of net sales, compared to USD313.4 million, or 14.7% of net sales, in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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 USD21.8 million loss in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016, compared to a USD5.8 million loss in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015. During the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016, Ternium&#8217;s net financial interest results totaled a loss of USD9.6 million, compared to a loss of USD21.9 million in the first quarter 2015, reflecting lower indebtedness and weighted average interest rates.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Net foreign exchange results were a loss of USD19.1 million in the first quarter 2016 compared to a gain of USD9.1 million in the first quarter 2015. The first quarter 2016 loss was mainly due to the negative impact of the Argentine Peso&#8217;s 11% 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>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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 USD7.5 million gain in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 compared to a USD7.7 million gain in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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 gain of USD2.4 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016, compared to a loss of USD9.5 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, mainly due to better results of Ternium&#8217;s investment in Usiminas.</FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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">first quarter </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">2016 was USD59.4 million, or 32% of income before income tax expense, compared with an income tax expense of USD93.0 million in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2015, or 49% of income before income tax expense. </FONT></P>

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><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 the </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">first </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">quarter 2016 was USD29.2 million, compared to net gain of USD27.3 million in the same period in 2015.</FONT></P>

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

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

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 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: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Net cash provided by operating activities in the first quarter 2016 was USD237.4 million. Working capital remained stable in the first quarter 2016 as a result of an aggregate USD119.5 million increase in trade and other receivables, offset by an USD89.4 million decrease in inventories and an aggregate USD28.1 million increase in accounts payable and other liabilities. Inventories decreased in the first quarter 2016, mainly reflecting lower inventory volumes of goods in process, purchased slabs and raw materials, and lower costs of goods in process and finished goods, partially offset by higher cost of raw materials and higher volumes of finished goods.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">Capital expenditures in the first quarter 2016 were USD97.8 million, USD14.0 million higher than capital expenditures in first quarter 2015. The main investments carried out during the period included, in Mexico, those made for the upgrade and expansion of a hot strip mill, the expansion of service center processing capacity and the improvement of environmental and safety conditions at certain facilities and, in Argentina, those made for the expansion and enhancement of the coking facilities, the upgrade of the hot-rolling mill, the enhancement of the steelmaking facilities and the relining of a blast furnace.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">In the first quarter 2016, Ternium had free cash flow of USD139.6 million<SUP> </SUP></FONT><SUP><U>[6]</U></SUP><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face="sabon mt">. During the period the company lent USD22.7 million to its non-consolidated company Techgen. In addition, Ternium&#8217;s net repayment of borrowings in the first quarter 2016 was USD85.5 million. As of March 31, 2016, Ternium&#8217;s net debt position was USD1.0 billion<SUP> </SUP></FONT><SUP><U>[7]</U></SUP><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: 0cm 0cm 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: 0cm 0cm 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: 0cm 0cm 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: 0cm 0cm 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: 0cm 0cm 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT style="VERTICAL-ALIGN: super"><FONT style="VERTICAL-ALIGN: 0px"><FONT lang=ES-AR style="FONT-SIZE: 10pt; COLOR: #000000" face="sabon mt">[6]</FONT></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="sabon mt">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Free cash flow in the first quarter 2016 equals net cash provided by operating activities of USD237.4 million less capital expenditures of USD97.8 million.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="MARGIN: 0cm 0cm 0pt 7.1pt; TEXT-INDENT: -7.1pt"><FONT style="VERTICAL-ALIGN: super"><FONT style="VERTICAL-ALIGN: 0px"><FONT lang=ES-AR style="FONT-SIZE: 10pt" color=blue face="times new roman"><FONT style="COLOR: #000000">[7]</FONT></FONT></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Net debt position at March 31, 2016 equals borrowings of USD1.4 billion less cash and equivalents plus other investments of USD0.4 billion.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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">7</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: 0cm 0cm 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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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">USD million</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">1Q 2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">1Q 2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" face="sabon mt"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.75pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Net sales</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,655.5 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2,126.1 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Cost of sales</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(1,286.8)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(1,728.3)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Gross profit</FONT></P></TD>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">368.7 </FONT></P></TD>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">397.8 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Selling, general and administrative expenses</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(164.0)</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(197.4)</FONT></P></TD>

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<TR style="HEIGHT: 15.95pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other operating (expenses) income, net</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(2.3)</FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">3.7 </FONT></P></TD>

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<TR style="HEIGHT: 19.8pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Operating income</FONT></P></TD>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 19.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">202.4 </FONT></P></TD>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 19.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">204.1 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Finance expense</FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(12.7)</FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(24.0)</FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Finance income</FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">3.0 </FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2.1 </FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other financial (expenses) income, net</FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(12.2)</FONT></P></TD>

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">16.1 </FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

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

   <P style="TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Equity in earnings (losses) of non-consolidated companies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(9.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

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

<TR style="HEIGHT: 15.35pt">

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Profit before income tax expense</FONT></P></TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">183.0 </FONT></P></TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">188.8 </FONT></P></TD>

   <TD style="HEIGHT: 15.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 23.25pt">

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(59.4)</FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(93.0)</FONT></P></TD>

   <TD style="HEIGHT: 23.25pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 18pt">

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Profit for the period</FONT></B></P></TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">123.6 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">95.8 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 8.2pt">

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 8.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 18pt">

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Attributable to:</FONT></P></TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">94.4 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">68.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">29.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">27.3 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 18pt">

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 9.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">Profit for the period</FONT></B></P></TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">123.6 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">95.8 </FONT></P></TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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">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: 0cm 0cm 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_11"></A>

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

<P style="MARGIN: 0cm 0cm 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>

<DIV align=left>

<TABLE style="BORDER-COLLAPSE: collapse; MARGIN-LEFT: 2.75pt; WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 33pt">

   <TD style="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=#ffffff face="sabon mt">USD million</FONT></B></P></TD>

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

   <TD style="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">March 31, <BR>2016</FONT></B></P></TD>

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

   <TD style="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 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></TR>

<TR style="HEIGHT: 12.45pt">

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 6pt">

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Property, plant and equipment, net</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">4,134.1 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">4,207.6 </FONT></P></TD>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Intangible assets, net</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">874.0 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">888.2 </FONT></P></TD>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Investments in non-consolidated companies</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">251.2 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">250.4</FONT></P></TD>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Deferred tax assets</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">101.9 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">98.1 </FONT></P></TD>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Receivables, net</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">52.7 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">36.1 </FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 14.7pt">

   <TD style="HEIGHT: 14.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">5,413.8</FONT></P></TD>

   <TD style="HEIGHT: 14.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">5,480.4</FONT></P></TD>

   <TD style="HEIGHT: 14.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Receivables</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">95.6 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">89.5 </FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Derivative financial instruments</FONT></P></TD>

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

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

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

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

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1.8 </FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Inventories, net</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,455.3 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,579.1 </FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Trade receivables, net</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">618.5 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">511.5 </FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other investments</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">234.7 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">237.2</FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Cash and cash equivalents</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">183.6 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">151.5 </FONT></P></TD>

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

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total current assets</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2,587.8</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2,570.5</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.3pt">

   <TD style="HEIGHT: 12.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">12.8</FONT></P></TD>

   <TD style="HEIGHT: 12.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.3pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">11.7 </FONT></P></TD>

   <TD style="HEIGHT: 12.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.2pt">

   <TD style="HEIGHT: 16.2pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.2pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 16.2pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">8,014.3</FONT></B></P></TD>

   <TD style="HEIGHT: 16.2pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.2pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.2pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">8,062.6</FONT></B></P></TD>

   <TD style="HEIGHT: 16.2pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 9.4pt">

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">4,071.5</FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"> </FONT></P></TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">4,033.1</FONT></P></TD>

   <TD style="HEIGHT: 9.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">713.3 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">769.8</FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 14.9pt">

   <TD style="HEIGHT: 14.9pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.9pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.9pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4,784.8</FONT></B></P></TD>

   <TD style="HEIGHT: 14.9pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.9pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.9pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4,803.0</FONT></B></P></TD>

   <TD style="HEIGHT: 14.9pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Provisions</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">6.9 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">8.1 </FONT></P></TD>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Deferred tax liabilities</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">568.8 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">609.5 </FONT></P></TD>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other liabilities</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">319.8 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">320.7 </FONT></P></TD>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Trade payables</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">13.4 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">13.4 </FONT></P></TD>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Borrowings</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">595.2</FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">607.2 </FONT></P></TD>

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

<TR style="HEIGHT: 18.75pt">

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,504.1</FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,559.0 </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Current income tax liabilities</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">72.6 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">41.1 </FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Other liabilities</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">228.9 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">156.7 </FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Trade payables</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">575.2 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">568.5 </FONT></P></TD>

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

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Derivative financial instruments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">14.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">20.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Borrowings</FONT></P></TD>

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

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

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">833.8 </FONT></P></TD>

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

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">913.8 </FONT></P></TD>

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

<TR style="HEIGHT: 15.6pt">

   <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,725.4 </FONT></P></TD>

   <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,700.6 </FONT></P></TD>

   <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.2pt">

   <TD style="HEIGHT: 15.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total liabilities</FONT></P></TD>

   <TD style="HEIGHT: 15.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">3,229.5</FONT></P></TD>

   <TD style="HEIGHT: 15.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 15.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">3,259.6</FONT></P></TD>

   <TD style="HEIGHT: 15.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 5.1pt">

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">8,014.3</FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">8,062.6</FONT></B></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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: 0cm 0cm 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="MARGIN: 0cm 0cm 0pt 0pt"><FONT style="POSITION: relative"></FONT><FONT lang=ES-AR style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="sabon mt">Consolidated Statement of Cash Flows</FONT></B></P>

<DIV align=left>

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



<TR style="HEIGHT: 23.25pt">

   <TD style="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=#ffffff face="sabon mt">USD million </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>&nbsp;</TD>

   <TD style="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">1Q 2016 </FONT></B></P></TD>

   <TD style="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt">1Q 2015 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">(Unaudited)</FONT></P></TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Profit for the period </FONT></P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">123.6 </FONT></P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">95.8 </FONT></P></TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4.95pt">

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 14.2pt">

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Adjustments for:</FONT></P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="5%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Depreciation and amortization </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">100.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">109.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Equity in (earnings) losses of non-consolidated companies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(2.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">9.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Changes in provisions </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">0.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">0.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Net foreign exchange results and others </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">17.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">7.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Interest accruals less payments </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(1.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Income tax accruals less payments </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(2.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">31.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Results on the sale of participation in subsidiary company</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Changes in working capital </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(1.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">69.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.35pt">

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=#ffffff face="sabon mt">Net cash provided by operating activities </FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">237.4 </FONT></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">323.8 </FONT></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4.7pt">

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Capital expenditures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(97.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(83.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0cm 0cm 0pt"><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="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">0.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">0.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0pt 0pt 0cm"><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="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(0.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

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

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Dividends received from non-consolidated companies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">0.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

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

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Loans granted to non-consolidated companies - Techgen</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(22.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

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

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Decrease (Increase) in Other Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(27.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.35pt">

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=#ffffff face="sabon mt">Net cash used in investing activities </FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">(117.7)</FONT></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">(111.8)</FONT></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 5.9pt">

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 5.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT></P>

   <P style="TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Contributions from non-controlling shareholders in consolidated subsidiaries </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">30.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

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

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Proceeds from borrowings </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">207.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">128.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; TEXT-INDENT: 9pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Repayments of borrowings </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(292.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(318.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 6.95pt">

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 6.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.35pt">

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=#ffffff face="sabon mt">Net cash used in by financing activities</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">(85.5)</FONT></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">(159.4)</FONT></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 4.8pt">

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.35pt">

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=#ffffff face="sabon mt">Increase in cash and cash equivalents</FONT></B></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=white face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">34.2 </FONT></P></TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 16.35pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">52.5 </FONT></P></TD>

   <TD style="HEIGHT: 16.35pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD></TR></TABLE></DIV>

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

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

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

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

<a name="_bclFooter12"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 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>

<P style="MARGIN: 0cm 0cm 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_13"></A>

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

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

<DIV align=left>

<TABLE style="BORDER-COLLAPSE: collapse; MARGIN-LEFT: 2.75pt; WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="99%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 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="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=#ffffff face="sabon mt">Thousand tons </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>&nbsp;</TD>

   <TD style="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">1Q 2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">1Q 2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 4.8pt">

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>&nbsp; </TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 4.8pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,596.6 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,536.0 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,406.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">559.0 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">622.7 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">643.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">274.8 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">272.2 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">259.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.9pt">

   <TD style="HEIGHT: 14.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2,430.5 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2,430.9 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2,309.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 18pt">

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total mining segment </FONT></P></TD>

   <TD style="HEIGHT: 18pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">834.4 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">964.6 </FONT></P></TD>

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

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">906.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 9.95pt">

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="99%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">1Q 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">1Q 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">620 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">806 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">678 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">830 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,014 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,010 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">713 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">888 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">770 </FONT></P></TD></TR>

<TR style="HEIGHT: 13.6pt">

   <TD style="HEIGHT: 13.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">679 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">869 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">781 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="HEIGHT: 16.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">53 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">59 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.45pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">50 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.5pt">

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="HEIGHT: 15pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="99%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">1Q 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">1Q 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 23.25pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">4Q 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.95pt">

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">990.5 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,238.4 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">954.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">464.1 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">631.6 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">650.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 15.95pt">

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">196.0 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">241.7 </FONT></P></TD>

   <TD style="HEIGHT: 15.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">199.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,650.6 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2,111.7 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.2pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,804.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 18.75pt">

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">4.4 </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">13.8 </FONT></P></TD>

   <TD style="HEIGHT: 18.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">5.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 16.9pt">

   <TD style="HEIGHT: 16.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,655.1 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2,125.5 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 16.9pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,809.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 7pt">

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 13pt">

   <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Total mining segment </FONT></P></TD>

   <TD style="HEIGHT: 13pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">43.8 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">57.0 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 13pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">45.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 3.3pt">

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 3.3pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 17.5pt">

   <TD style="HEIGHT: 17.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 17.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt"></FONT><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,698.9 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 17.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">2,182.5 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 17.5pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">1,854.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 7.65pt">

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 7.65pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 14.1pt">

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face="sabon mt">Intersegment eliminations </FONT></P></TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(43.4)</FONT></P></TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(56.4)</FONT></P></TD>

   <TD style="HEIGHT: 14.1pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" face="sabon mt">(44.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.95pt">

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.95pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 17.3pt">

   <TD style="HEIGHT: 17.3pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0cm 0cm 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: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 17.3pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">1,655.5 </FONT></P></TD>

   <TD style="HEIGHT: 17.3pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">2,126.1 </FONT></P></TD>

   <TD style="HEIGHT: 17.3pt; BACKGROUND: #969696; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=ES-AR style="FONT-SIZE: 9pt" color=white face="sabon mt">1,809.9 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 6pt 0cm 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>

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

<P style="MARGIN: 8pt 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<DIV><FONT lang=PT-BR><BR clear=all></FONT></DIV></DIV>

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

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