<SEC-DOCUMENT>0000891092-14-003533.txt : 20140430
<SEC-HEADER>0000891092-14-003533.hdr.sgml : 20140430
<ACCEPTANCE-DATETIME>20140430172532
ACCESSION NUMBER:		0000891092-14-003533
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20140331
FILED AS OF DATE:		20140430
DATE AS OF CHANGE:		20140430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GROUP SIMEC SA DE CV
		CENTRAL INDEX KEY:			0000887153
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11176
		FILM NUMBER:		14800550

	BUSINESS ADDRESS:	
		STREET 1:		CALZADA LAZARO CARDENAS 601
		CITY:			44910 GUADALAJARA JA
		STATE:			O5
		ZIP:			10022

	MAIL ADDRESS:	
		STREET 1:		CALZADA LAZARO CARDENAS
		CITY:			GUADALAJARA JALISCO
		STATE:			O5
		ZIP:			999999999
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>e58684-6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Washington</B></FONT><B>,
D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>COMMISSION FILE NUMBER 1-11176</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For the month of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 0.75pt solid">Group Simec,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Translation of Registrant&rsquo;s Name Into
English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 0.75pt solid">Av. Lazaro
Cardenas 601, Colonia la Nogalera, Guadalajara, Jalisco, Mexico 44440</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 12pt">Form 20-F [X] Form 40-F [_]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 12pt; text-indent: 0.5in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[_] No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[X]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 12pt; text-indent: 0.5in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[_]
No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[X]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 12pt; text-indent: 0.5in">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[_]
No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [X]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(If &ldquo;Yes&rdquo; is marked, indicate below the file number
assigned to the registrant in connection with Rule 12g3-2(b): 82-___________.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 5%">&nbsp;</td>
    <TD STYLE="width: 45%"><font style="font: 10pt Times New Roman, Times, Serif"><u>GRUPO SIMEC, S.A.B. de C.V.</u></font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 10pt">(Registrant)</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr>
    <TD STYLE="text-align: left; vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">Date: April 29, 2014.</font></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;By:</font>&nbsp;</td>
    <TD STYLE="text-align: left; vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif"><u>/s/ Luis Garc&iacute;a Lim&oacute;n</u></font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">Name:&nbsp;&nbsp; Luis Garc&iacute;a Lim&oacute;n</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">Title:&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer</font></td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 64%; padding-left: 5.4pt; text-align: justify"><font style="font: 10pt Courier New, Courier, Monospace"><b>PRESS RELEASE</b></font></td>
    <td style="width: 36%; padding-left: 5.4pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">Contact: Sergio Vigil Gonz&aacute;lez</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-left: 5.4pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;Mario Moreno Cortez</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-left: 5.4pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;Grupo Simec, S.A.B. de C.V.</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-left: 5.4pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-size: 11pt">Calzada L&aacute;zaro C&aacute;rdenas 601</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-left: 5.4pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;44440 Guadalajara, Jalisco, M&eacute;xico</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-left: 5.4pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;52 55 1165 1025</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-left: 5.4pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;52 33 3770 6734</font></td></tr>
</table>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST QUARTER,
OF 2014, ENDED MARCH 31, 2014</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">GUADALAJARA, MEXICO, April 29, 2014- Grupo Simec, S.A.B. de C.V.
(NYSE: SIM) (&ldquo;Simec&rdquo;) announced today its results of operations for the three-month period ended March 31, 2014.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Comparative first quarter of 2014 vs. first
quarter of 2013</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><I>Net Sales</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The net sales of the company increased 2% derived
from the increase in average sales price. Sales increased from Ps. 6,443 million in the first quarter of 2013 to Ps. 6,582 million
in the same period of 2014. Shipments of steel finished goods remained from 531 thousand tons in the first quarter of 2013 compared
to 530 thousand tons in the same period of 2014. Total sales outside of Mexico in the first quarter of 2014 increased 3% to reach
Ps. 3,175 million compared to Ps. 3,070 million in the same period of 2013. The Mexican sales increased 1% from Ps. 3,373 million
in the first quarter of 2013 to Ps. 3,407 million in the same period of 2014. The increase in sales can be explained due to a better
average selling price compared with the same period of 2013. The average sales price per ton of steel finished goods increase 2%
in the first quarter of 2014 compared with the same period of 2013.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Cost of Sales</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The cost of sales increased 6% from Ps. 5,722
million in the first quarter of 2013 to Ps. 6,057 million in the same period of 2014. In the first quarter of 2014 the cost of
sales represents the 92% of the net sales compared to 89% in the same period of 2013. The average cost of sales per ton of steel
finished goods increased 6% in the first quarter of 2014 compared to the same period of 2013.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Gross Profit</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
gross profit of the company for the same period decreased 27% from Ps. 721 million in 2013 to Ps. 525 million in the same period
of 2014. Gross profit as a percentage of net sales in the first quarter of 2014 was 8% and for the same period of 2013 was 11%.
</FONT>The decrease in gross profit is due to an increase in the raw materials in the first quarter of 2014 compared with the same
period of 2013.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>General, Sales and administrative Expenses</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">General, selling and administrative expenses
decreased 17% from Ps. 332 million in the first quarter of 2013 compared to Ps. 274 million in the same period of 2014, and representing
4% and 5% of net sales in the first quarter of 2014 and 2013 respectively.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Other Expenses (Income) net </I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company recorded other expenses net of
Ps. 3 million in the first quarter of 2014 compared to other income net of Ps. 2 million in the same period of 2013.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Operating Income</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
operating income decreased 34% from Ps. 387 million for the first quarter of 2013 compared to Ps. 254 million in the same period
of 2014. Operating income as a percentage of net sales was 4% in the first quarter of 2014 compared to 6% in the same period of
2013. </FONT>The decrease in operating income is due to an increase in the cost of sales in the first quarter of 2014 compared
with the same period of 2013.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>EBITDA</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EBITDA of the company for the first quarter
of 2014, show a decrement of 26%, by the above mentioned to pass from Ps. 679 million in the first quarter of 2013 compared against
Ps. 501 million of the first quarter of 2014.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Comprehensive Financial Cost </I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Comprehensive financial cost in the first
quarter of 2014 represented a net expense of Ps. 18 million compared with an expense of Ps. 218 million in the same period of 2013.
Net interest was an expense of Ps. 4 million in the first quarter of 2014 compared with a net expense of Ps. 0 million in the same
period of 2013. At the same time, Simec registered an exchange loss of Ps. 14 million in the first quarter of 2014 compared with
an exchange loss of Ps. 218 million in the same period of 2013.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Income Taxes</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income Taxes recorded an income of Ps. 1 million
in the first quarter of 2014 (including the income of Ps. 23 million of deferred income taxes) compared to an income of Ps. 18
million in the same period of 2013 (including the benefits of Ps. 27 million of deferred income taxes).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Net Income (loss) (Before Non- controlling
Interest)</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the foregoing, net income increased
7% to Ps. 327 million in the first quarter of 2014 from Ps. 306 million in the same period of previous year.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: italic bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-style: normal"><B>Liquidity
and Capital Resources</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March 31, 2014, Simec&rsquo;s total consolidated
debt consisted of U.S. $302,000 of 8 7/8% medium-term notes (&ldquo;MTN's&rdquo;) due 1998, or Ps. 4.0 million (accrued interest
on March 31, 2013 was U.S. $536,529, or Ps. 7.2 million). As of March 31, 2013, Simec&rsquo;s total consolidated debt consisted
of U.S. $302,000 of 8 7/8% medium-term notes (&ldquo;MTN's&rdquo;) due 1998, or Ps. 3.7 million (accrued interest on March 31,
2013 was U.S. $506,856 or Ps. 6.3 million).</P>

<P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Comparative first quarter of 2014 vs. fourth
quarter of 2013</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><I>Net Sales</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The net sales of the company increased 19%
comparing Ps. 5,532 million in the fourth quarter of 2013 to Ps. 6,582 million in the first quarter of 2014. The tons sales increased
9%, from 485 thousand tons in the fourth quarter of 2013 compared to 530 thousand tons in the first quarter of 2014. Total sales
outside of Mexico in the first quarter of 2014 increased 30% to Ps. 2,437 million on the last quarter of 2013 compared to Ps. 3,175
million in the first quarter of 2014. The Mexican sales increased 10% from Ps. 3,095 million in the fourth quarter of 2013 to Ps.
3,407 million in the first quarter of 2014. The average sales price per ton increased 9% in the first quarter of 2014 compared
with the fourth quarter of 2013.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Cost of Sales</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of sales increased 11% from Ps. 5,446
million in the fourth quarter of 2013 to Ps. 6,057 million in the first quarter of 2014. Cost of sales as a percentage of net sales
in the first quarter of 2014 represented 92% and in the last quarter of 2013 cost of sales represented 98%. The average cost of
finished steel products in the first quarter of 2014 increased 2% compared to the fourth quarter of 2013 as a result of an increased
on the shipped volume and cost of raw materials.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Gross Profit</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit of the company for the first quarter increased from Ps. 525 million in 2014 to Ps. 86 million in last quarter of 2013. Gross
profit as a percentage of net sales in the first quarter of 2014 was 8% and for the last period of 2013 was 2%. </FONT>The increase
in gross profit is due to the rise on the volume of shipments and the average sales price on the first quarter of 2014 compared
with the last quarter of 2013.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>General, Sales and administrative Expenses</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">General, selling and administrative expenses
increased 18% from Ps. 274 million in the first quarter of 2014 compared to Ps. 233 million in the fourth quarter of 2013, representing
4% of net sales in both periods.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Other Expenses (Income) net </I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company recorded other net income of Ps.
3 million in the first quarter of 2014 compared to other net expense of Ps. 68 million in the fourth quarter of 2013.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Operating Income</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Operating
income increased 218% from Ps. 254 million for the first quarter of 2014 compared to a loss of Ps. 215 million in the last quarter
of 2013. Operating income as a percentage of net sales was 4% in the first quarter of 2014, compared to -3% in the last quarter
of 2013. </FONT>The increase in operating income is due to the increase in volume of shipments and the average sales price, in
the first quarter of 2014 compared with the fourth quarter of 2013.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>EBITDA</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The EBITDA of the company increased Ps. 508
million comparing Ps. 501 million of the first quarter of 2014 against Ps. -7 million of the last quarter of 2013, there was an
increase of Ps. 508 millions.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Comprehensive Financial Cost </I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Comprehensive financial cost in the first quarter
of 2014 represented a net expense of Ps. 18 million compared with an income of Ps. 84 million in the fourth quarter of 2013. Net
interest expense of the first quarter of 2014 was of Ps. 4 million compared with an interest net income of Ps. 18 million in the
last quarter of 2013. At the same time, Simec registered a loss on exchange rate of Ps. 14 million in the first quarter of 2014
compared with an income on exchange rate of Ps. 66 million on the last quarter of 2014.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Income Taxes</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income Taxes recorded an income of Ps. 1 million
in the first quarter of 2014 (including Ps. 23 million of deferred income taxes) compared with an income of Ps. 35 million in the
same period of 2013 (including the benefits of Ps. 198 million of deferred income taxes).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Net Income (loss) (Before Non- controlling
Interest)</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the foregoing, the net income
of the first quarter of 2014 is of Ps. 327 million compared with Ps. 151 million of the last period of previous year.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td nowrap style="width: 38%; border: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Quarter</b></font></td>
    <td nowrap style="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <td nowrap style="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <td nowrap style="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <td nowrap style="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td nowrap style="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: navy">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: white"><b>(millones of pesos)</b></font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: white"><b>1Q&lsquo;14</b></font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: white"><b>1Q &lsquo;13</b></font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: white"><b>4Q &lsquo;13</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: white"><b>1Q&acute;14vs </b></font><br>
<font style="font: 8pt Arial, Helvetica, Sans-Serif; color: white"><b>1Q&acute;13</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: white"><b>1Q&acute;14 vs </b></font><br>
<font style="font: 8pt Arial, Helvetica, Sans-Serif; color: white"><b>4Q '13</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">Sales</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">6,582</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">6,443</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">5,532</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">2%</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">19%</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">Cost of Sales</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">6,057</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">5,722</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">5,446</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">6%</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">11%</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">Gross Profit</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">525</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">721</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">86</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">(27%)</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">510%</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">Selling, General and Adm. Expenses</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">274</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">332</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">233</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">(17%)</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">18%</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">Other Income (Expenses), net</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">-2</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">-68</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">250%</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">104%</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">Operating Profit</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">254</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">387</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">-215</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">(34%)</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">218%</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">EBITDA</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">501</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">679</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">-7</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">(26%)</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">7,257%</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">Net Income</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">327</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">306</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">151</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">7%</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">117%</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">Sales Outside Mexico</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3,175</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3,070</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2,437</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">3%</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">30%</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">Sales in Mexico</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3,407</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3,373</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3,095</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">1%</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">10%</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 9pt Arial, Helvetica, Sans-Serif">Total Sales (Tons)</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">530</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">531</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">485</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">0%</font></td>
    <td nowrap style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 9pt Arial, Helvetica, Sans-Serif">9%</font></td></tr>
</table>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="width: 22%; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Product </b></font></td>
    <td style="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Thousand of Tons </b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Jan-Mar 2014</b></P></td>
    <td style="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Million of Pesos<BR>
Jan-Mar 2014</b></font></td>
    <td style="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Average Price per Ton </b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Jan-Mar</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>2014</b></P></td>
    <td style="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Thousand of Tons </b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Jan-Mar</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>2013</b></P></td>
    <td style="width: 8%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Million of Pesos Jan-Mar</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>2013</b></P></td>
    <td style="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Average Price per Ton </b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Jan-Mar</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>2013</b></P></td>
    <td style="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Thousand of Tons Oct-Dec</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>2013 </b></P></td>
    <td style="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Million of Pesos<BR>
Oct-Dec 2013</b></font></td>
    <td style="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>Average Price per Ton Oct-Dec</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>2013</b></P></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Commercial Profiles</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">238</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2,320</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">9,748</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">247</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2,475</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">10,021</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">219</P></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">1,899</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">8,671</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Special Profiles</b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">292</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">4,262</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">14,596</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">284</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3,968</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">13,971</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">266</P></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3,633</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">13,657</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total </b></font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">530</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">6,582</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">12,419</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">531</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">6,443</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">12,134</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">485</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">5,532</font></td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">11,406</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td>
    <td nowrap style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><I>Any forward-looking
information contained herein is inherently subject to various risks, uncertainties and assumptions which, if incorrect, may cause
actual results to vary materially from those anticipated, expected or estimated. The company assumes no obligation to update any
forward-looking information</I></FONT> <I>contained herein.</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="width: 75%; border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 6pt; text-align: center">&nbsp;</td>
    <td style="width: 12%; border-top: black 1pt solid">&nbsp;</td>
    <td style="width: 13%; border-top: black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; padding-left: 6pt"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>CLAVE DE COTIZACION: </b></font><b><font style="font: 8pt Arial, Helvetica, Sans-Serif">SIMEC&nbsp;</font></b></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>QUARTER: 1 </b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; padding-left: 6pt"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>GRUPO SIMEC, S.A.B. DE C.V&nbsp;</b></font></td>
    <td>&nbsp;</td>
    <td><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">&nbsp;<b>2014</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; padding-left: 6pt; text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; padding-left: 6pt; text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(THOUSAND PESOS)</b></font></td>
    <td style="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td style="border-left: black 1pt solid; border-right: black 1pt solid; padding-left: 6pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ENDING CURRENT QUARTER</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ENDING PREVIOUS YEAR</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 6pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ACCOUNT</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Amount</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Amount</b></font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>TOTAL ASSETS</b></font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>33,930,124</b></font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>33,279,847</b></font></td></tr>
<tr>
    <td style="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>TOTAL CURRENT ASSETS</b></font></td>
    <td style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>16,751,951</b></font></td>
    <td style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>16,201,631</b></font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">CASH AND CASH EQUIVALENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,843,172</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,984,730</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">SHORT-TERM INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; AVAILABLE-FOR-SALE INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; TRADING INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; HELD-TO-MATURITY INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">TRADE RECEIVABLES, NET</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,767,040</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,311,740</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; TRADE RECEIVABLES&nbsp;</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,849,617</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,394,317</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; ALLOWANCE FOR DOUBTFUL ACCOUNTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-82,577</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-82,577</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER RECEIVABLES, NET</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">807,289</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">788,513</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER RECEIVABLES&nbsp;</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">807,289</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">788,513</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; ALLOWANCE FOR DOUBTFUL ACCOUNTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">INVENTORIES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,107,770</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">5,931,001</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">BIOLOGICAL CURRENT ASSETS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER CURRENT ASSETS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">226,680</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">185,647</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; PREPAYMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DERIVATIVE FINANCIAL INSTRUMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; ASSETS AVAILABLE FOR SALE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DISCONTINUED OPERATIONS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; RIGHTS AND LICENSES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">226,680</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">185,647</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>TOTAL NON-CURRENT ASSETS</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>17,178,173</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>17,078,216</b></font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">ACCOUNTS RECEIVABLE, NET</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; INVESTMENTS IN ASSOCIATES AND JOINT VENTURES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; HELD-TO-MATURITY INVESTMENTS&nbsp;</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; AVAILABLE-FOR-SALE INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">PROPERTY, PLANT AND EQUIPMENT, NET</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">12,378,948</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">12,168,073</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; LAND AND BUILDINGS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,110,014</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,103,869</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; MACHINERY AND INDUSTRIAL EQUIPMENT</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">16,814,991</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">16,548,195</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER EQUIPMENT</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">295,702</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">297,506</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; ACCUMULATED DEPRECIATION</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-10,585,286</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-10,399,238</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; CONSTRUCTION IN PROGRESS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,743,527</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,617,741</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">INVESTMENT PROPERTY</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">BIOLOGICAL NON- CURRENT ASSETS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">INTANGIBLE ASSETS, NET</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,103,747</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,216,844</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; GOODWILL</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,814,160</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,814,160</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; TRADEMARKS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">329,600</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">329,600</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; RIGHTS AND LICENSES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; CONCESSIONS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER INTANGIBLE ASSETS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">959,987</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,073,084</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">DEFERRED TAX ASSETS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER NON-CURRENT ASSETS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,695,478</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,693,299</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; PREPAYMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DERIVATIVE FINANCIAL INSTRUMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; EMPLOYEE BENEFITS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; AVAILABLE FOR SALE ASSETS&nbsp;</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DISCONTINUED OPERATIONS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DEFERRED CHARGES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,695,478</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,693,299</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>TOTAL LIABILITIES</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>7,384,478</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>7,004,882</b></font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>TOTAL CURRENT LIABILITIES</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>5,105,912</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>4,704,629</b></font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">BANK LOANS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
</table>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">STOCK MARKET LOANS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,951</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,946</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER LIABILITIES WITH COST</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">665,067</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">663,703</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">TRADE PAYABLES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,348,023</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,009,471</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">TAXES PAYABLE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">515,786</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">414,537</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; INCOME TAX PAYABLE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER TAXES PAYABLE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">515,786</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">414,537</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER CURRENT LIABILITIES&nbsp;</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">573,085</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">612,972</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; INTEREST PAYABLE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">7,020</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,886</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DERIVATIVE FINANCIAL INSTRUMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DEFERRED REVENUE&nbsp;</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; EMPLOYEE BENEFITS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; PROVISIONS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; padding-left: 6pt"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">&nbsp;&nbsp; CURRENT LIABILITIES RELATED TO AVAILABLE FOR SALE ASSETS</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DISCONTINUED OPERATIONS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">566,065</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">606,086</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>TOTAL NON-CURRENT LIABILITIES</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>2,278,566</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>2,300,253</b></font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">BANK LOANS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">STOCK MARKET LOANS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER LIABILITIES WITH COST</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">DEFERRED TAX LIABILITIES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,183,373</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,206,364</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER NON-CURRENT LIABILITIES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">95,193</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">93,889</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DERIVATIVE FINANCIAL INSTRUMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DEFERRED REVENUE&nbsp;</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; width: 76%; border-left: black 1pt solid; border-bottom: black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; EMPLOYEE BENEFITS</font></td>
    <td style="vertical-align: bottom; width: 12%; border-bottom: black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">79,459</font></td>
    <td style="vertical-align: bottom; width: 12%; border-bottom: black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">81,396</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; PROVISIONS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; padding-left: 6pt"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">&nbsp;&nbsp; NON-CURRENT LIABILITIES RELATED TO AVAILABLE FOR SALE ASSETS&nbsp;</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DISCONTINUED OPERATIONS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">15,734</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">12,493</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>TOTAL EQUITY</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>26,545,646</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>26,274,965</b></font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">EQUITY ATTRIBUTABLE TO OWNERS OF PARENT</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">25,302,338</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">24,946,688</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">CAPITAL STOCK</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,832,268</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,832,268</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">SHARES REPURCHASED</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">PREMIUM ON ISSUANCE OF SHARES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,153,850</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,153,850</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER CONTRIBUTED CAPITAL&nbsp;</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">RETAINED EARNINGS (ACCUMULATED LOSSES)</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">18,249,042</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">17,948,652</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; LEGAL RESERVE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER RESERVES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">743,033</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">769,582</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; RETAINED EARNINGS&nbsp;&nbsp;</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">17,179,070</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">15,662,517</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; NET INCOME FOR THE PERIOD</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">326,939</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,516,553</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">ACCUMULATED OTHER COMPREHENSIVE INCOME (NET OF TAX)</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">67,178</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">11,918</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; GAIN ON&nbsp; REVALUATION OF PROPERTIES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; ACTUARIAL GAINS&nbsp; (LOSSES) FROM LABOR OBLIGATIONS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; FOREING CURRENCY TRANSLATION</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">67,178</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">11,918</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; CHANGES IN THE VALUATION OF FINANCIAL ASSETS AVAILABLE FOR SALE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; CHANGES IN THE VALUATION OF DERIVATIVE FINANCIAL INSTRUMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; CHANGES IN FAIR VALUE OF OTHER ASSETS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; SHARE OF OTHER COMPREHENSIVE INCOME&nbsp; OF ASSOCIATES AND JOINT VENTURES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER COMPREHENSIVE INCOME</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">NON-CONTROLLING INTERESTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,243,308</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,328,277</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; padding-left: 6pt">
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"><b>&nbsp;</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><b>&nbsp;</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><b>&nbsp;</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><b>&nbsp;</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><b>&nbsp;</b></P>
        <P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><b>&nbsp;</b></P></td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right">&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td rowspan="3" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; background-color: #FFFF99; padding-left: 6pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Informational data (not </b></font><b><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red">a </font></b><b><font style="font: 8pt Arial, Helvetica, Sans-Serif">part of the STATEMENTS OF FINANCIAL POSITION)</font></b></td>
    <td style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ENDING CURRENT QUARTER</b></font></td>
    <td style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ENDING PREVIOUS YEAR</b></font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td rowspan="2" style="border-bottom: black 1pt solid; border-right: Black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Amount</b></font></td>
    <td rowspan="2" style="border-bottom: black 1pt solid; border-right: Black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Amount</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom; border: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">SHORT-TERM FOREIGN CURRENCY LIABILITIES</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,791,248</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,586,846</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">LONG</font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red">-</font><font style="font: 8pt Arial, Helvetica, Sans-Serif">TERM FOREIGN CURRENCY LIABILITIES</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">15,734</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">12,493</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">CAPITAL STOCK (NOMINAL)</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,420,230</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,420,230</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">RESTATEMENT OF CAPITAL STOCK</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">412,038</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">412,038</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">PLAN ASSETS FOR</font><font style="font: 8pt Arial, Helvetica, Sans-Serif"> PENSIONS AND SENIORITY PREMIUMS</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">NUMBER OF EXECUTIVES</font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red"> (+) </font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">55</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">55</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">NUMBER OF EMPLOYEES </font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red">(+)</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,706</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,596</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">NUMBER OF WORKERS </font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red">(+)</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,405</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,466</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OUTSTANDING SHARES </font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red">(+)</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">497,709,214</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">497,709,214</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">REPURCHASED SHARES</font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red"> (+)</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,921,448</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,421,018</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">RESTRICTED CASH</font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red"> (1)</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right">&nbsp;</td>
    <td style="vertical-align: top; border-bottom: black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">GUARANTEED DEBT OF ASSOCIATED COMPANIES</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">665,067</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">663,703</font></td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td colspan="3">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td colspan="3"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">(1) This concept must be filled when</font><font style="font: 10pt Tahoma, Helvetica, Sans-Serif; color: red"> there are guarantees or restrictions </font><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">that affect cash and cash equivalents</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td><font style="font: 8pt Tahoma, Helvetica, Sans-Serif; color: red">(*) Data in units</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>
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<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="5" style="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font: 12pt Arial, Helvetica, Sans-Serif"><b>BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">CLAVE DE COTIZACION: </font><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>SIMEC</b></font></td>
    <td style="width: 112px">&nbsp;</td>
    <td style="width: 93px"><font style="font: 11pt Arial, Helvetica, Sans-Serif"><b>QUARTER: 1</b></font></td>
    <td style="width: 115px; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>YEAR 2014</b></font></td>
    <td style="width: 83px; border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="5" style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 12pt Arial, Helvetica, Sans-Serif"><b>STATEMENTS OF COMPREHENSIVE INCOME</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>GRUPO SIMEC, S.A.B. DE C.V</b></font></td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>CONSOLIDADO</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(THOUSAND PESOS)</b></font></td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="background-color: #FFFF99">
    <td rowspan="2" style="border-left: Black 1pt solid; border-bottom: black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ACCOUNT</b></font></td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>PREVIOUS YEAR</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ACCUMULATED</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>QUARTER</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ACCUMULATED</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>QUARTER</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">REVENUE</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,582,315</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,582,315</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,442,925</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,442,925</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; SERVICES</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; SALE OF GOODS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,582,315</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,582,315</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,442,925</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,442,925</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; INTERESTS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; ROYALTIES</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DIVIDENDS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; LEASES</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; CONSTRUCTIONS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER REVENUE</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">COST OF SALES</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,057,256</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,057,256</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">5,721,916</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">5,721,916</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>GROSS PROFIT</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">525,059</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">525,059</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">721,009</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">721,009</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">GENERAL EXPENSES</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">273,902</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">273,902</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">331,654</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">331,654</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>PROFIT (LOSS) BEFORE OTHER INCOME (EXPENSE), NET</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">251,157</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">251,157</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">389,355</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">389,355</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER INCOME (EXPENSE), NET</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,315</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">3,315</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-2,291</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-2,291</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>OPERATING PROFIT (LOSS) </b></font><b><font style="font: 10pt Arial, Helvetica, Sans-Serif">(*)</font></b></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">254,472</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">254,472</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">387,064</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">387,064</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; FINANCE INCOME</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,118</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,118</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,906</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,906</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; INTEREST INCOME</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,118</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,118</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,906</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,906</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; GAIN ON FOREIGN EXCHANGE, NET</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; GAIN ON DERIVATIVES, NET</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; GAIN ON CHANGE IN FAIR VALUE OF FINANCIAL INSTRUMENTS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER FINANCE INCOME</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; FINANCE COSTS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">23,793</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">23,793</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">223,112</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">223,112</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; INTEREST EXPENSE</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">10,301</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">10,301</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,850</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,850</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; LOSS ON FOREIGN EXCHANGE, NET</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">13,492</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">13,492</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">218,262</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">218,262</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; LOSS ON DERIVATIVES, NET</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; LOSS ON CHANGE IN FAIR VALUE OF FINANCIAL INSTRUMENTS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER FINANCE COSTS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>FINANCE INCOME (COSTS), NET</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-17,675</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-17,675</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-218,206</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-218,206</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">SHARE OF PROFIT (LOSS) OF ASSOCIATES AND JOINT VENTURES</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>PROFIT (LOSS) BEFORE INCOME TAX</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">236,797</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">236,797</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">168,858</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">168,858</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">INCOME TAX EXPENSE</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-1,491</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-1,491</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-18,455</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-18,455</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; CURRENT TAX</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">22,007</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">22,007</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">8,179</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">8,179</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; DEFERRED TAX</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-23,498</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-23,498</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-26,634</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-26,634</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>PROFIT (LOSS) FROM CONTINUING OPERATIONS</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">238,288</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">238,288</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">187,313</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">187,313</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">PROFIT (LOSS) FROM DISCONTINUED OPERATIONS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>NET PROFIT (LOSS)</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">238,288</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">238,288</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">187,313</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">187,313</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; PROFIT (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTERESTS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-88,651</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-88,651</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-118,768</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-118,768</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; PROFIT (LOSS) ATTRIBUTABLE TO OWNERS OF PARENT</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">326,939</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">326,939</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">306,081</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">306,081</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-left: 6pt"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">BASIC EARNINGS (LOSS) PER SHARE</font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">DILUTED EARNINGS (LOSS) PER SHARE</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
</table>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="5" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="5" style="border-left: black 1pt solid; border-right: black 1pt solid"><font style="font: 12pt Arial, Helvetica, Sans-Serif"><b>OTHER COMPREHENSIVE INCOME</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(NET OF INCOME TAX)</b></font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>NET PROFIT (LOSS)</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">238,288</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">238,288</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">187,313</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">187,313</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>DISCLOSURES NOT BE RECLASSIFIED ON INCOME</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">PROPERTY REVALUATION GAINS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; ACTUARIAL EARNINGS (LOSS) FROM LABOR OBLIGATIONS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">SHARE OF INCOME ON REVALUATION ON PROPERTIES OF ASSOCIATES AND JOINT VENTURES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>DISCLOSURES MAY BE RECLASSIFIED SUBSEQUENTLY TO INCOME</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; FOREING CURRENCY TRANSLATION</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; font-size: 8pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; font-size: 8pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; font-size: 8pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; font-size: 8pt">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; CHANGES IN THE VALUATION OF FINANCIAL ASSETS HELD-FOR-SALE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; CHANGES IN THE VALUATION OF DERIVATIVE FINANCIAL INSTRUMENTS</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; font-size: 8pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; font-size: 8pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; font-size: 8pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; font-size: 8pt">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; CHANGES IN FAIR VALUE OF OTHER ASSETS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">SHARE OF OTHER COMPREHENSIVE INCOME&nbsp; OF ASSOCIATES AND JOINT VENTURES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; OTHER COMPREHENSIVE INCOME</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>TOTAL OTHER COMPREHENSIVE INCOME</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>TOTAL COMPREHENSIVE INCOME&nbsp;</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">238,288</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">238,288</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">187,313</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">187,313</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; COMPREHENSIVE INCOME, ATTRIBUTABLE TO NON-CONTROLLING INTERESTS</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-88,651</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-88,651</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-118,768</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-118,768</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; COMPREHENSIVE INCOME, ATTRIBUTABLE TO OWNERS OF PARENT</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">326,939</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">326,939</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">306,081</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">306,081</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="background-color: #FFFF99">
    <td rowspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-left: 6pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Informational data (not part of the statement)</b></font></td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>PREVIOUS YEAR</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ACCUMULATED</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>QUARTER</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>ACCUMULATED</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>QUARTER</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OPERATING DEPRECIATION AND AMORTIZATION</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">246,859</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">246,859</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">291,999</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">291,999</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">EMPLOYEE PROFIT SHARING EXPENSE</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td rowspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; background-color: #FFFF99; padding-left: 6pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Informative data (12 Months)</b></font></td>
    <td colspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>YEAR</b></font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>CURRENT</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>PREVIOUS</b></font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">REVENUE NET (**)</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">24,508,330</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">27,852,052</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OPERATING PROFIT (LOSS) (**)</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">620,261</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,885,909</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">PROFIT (LOSS) ATTRIBUTABLE TO OWNERS OF PARENT(**)</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,537,411</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,646,974</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">NET PROFIT (LOSS) (**)</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,040,574</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,408,582</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OPERATING DEPRECIATION AND AMORTIZATION (**)</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,007,760</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,055,548</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(*) TO BE DEFINED BY EACH COMPANY</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(**) INFORMATION FOR THE LAST 12 MONTHS</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="3" style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 12pt Arial, Helvetica, Sans-Serif"><b>BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; background-color: white"><font style="font: 12pt Arial, Helvetica, Sans-Serif">CLAVE DE COTIZACION: <b>SIMEC</b></font></td>
    <td style="text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>YEAR 2014</b></font></td>
    <td style="border-right: Black 1pt solid">
        <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>QUARTER: 1</b></P>
        <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><b>&nbsp;</b></P></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="3" style="border-left: black 1pt solid; border-right: black 1pt solid"><font style="font: 12pt Arial, Helvetica, Sans-Serif"><b>GRUPO SIMEC, S.A.B. DE C.V</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="3" style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 12pt Arial, Helvetica, Sans-Serif"><b>STATEMENTS OF CASH FLOWS</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; padding-left: 6pt; text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>CONSOLIDADO</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 6pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(THOUSAND PESOS)</b></font></td>
    <td style="border-bottom: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td></tr>
<tr style="background-color: #FFFF99">
    <td rowspan="2" style="border-left: Black 1pt solid; border-bottom: black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>CONCEPTS</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>PREVIOUS YEAR</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Amount</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>Amount</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #D8D8D8">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>OPERATING ACTIVITIES</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>PROFIT (LOSS) BEFORE INCOME TAX</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">236,797</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">168,858</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) ITEMS NOT REQUIRING CASH</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ ESTIMATE FOR THE PERIOD</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ PROVISION FOR THE PERIOD</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) OTHER UNREALISED ITEMS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) ITEMS RELATED TO INVESTING ACTIVITIES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">238,812</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">285,124</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">DEPRECIATION AND AMORTISATION FOR THE PERIOD</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">246,859</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">291,999</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-)+ GAIN OR LOSS ON SALE OF PROPERTY, PLANT AND EQUIPMENT</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) LOSS (REVERSAL) IMPAIRMENT</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-)+ EQUITY IN RESULTS OF ASSOCIATES AND JOINT VENTURES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) DIVIDENDS RECEIVED</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) INTEREST RECEIVED</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-6,110</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-4,906</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) EXCHANGE FLUCTUATION</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-)+ OTHER INFLOWS (OUTFLOWS) OF CASH</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-1,937</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-1,969</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) ITEMS RELATED TO FINANCING ACTIVITIES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">10,301</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,850</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(+) ACCRUED INTEREST</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">10,301</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,850</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(+) EXCHANGE FLUCTUATION</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(+) DERIVATIVE TRANSACTIONS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-)+ OTHER INFLOWS (OUTFLOWS) OF CASH</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b><i>CASH FLOWS BEFORE INCOME TAX</i></b></font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">485,910</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">458,832</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-235,471</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-348,684</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) DECREASE (INCREASE) IN TRADE ACCOUNTS RECEIVABLE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-455,300</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-846,631</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) DECREASE (INCREASE) IN INVENTORIES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-178,948</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">394,132</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) DECREASE (INCREASE) IN OTHER ACCOUNTS RECEIVABLE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-46,962</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-247,230</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) INCREASE (DECREASE) IN TRADE ACCOUNTS PAYABLE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">379,772</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">101,233</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) INCREASE (DECREASE) IN OTHER LIABILITIES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">65,967</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">249,812</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) INCOME TAXES PAID OR RETURNED</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b><i>NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES</i></b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">250,439</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">110,148</font></td></tr>
<tr style="vertical-align: bottom; background-color: #D8D8D8">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>INVESTING ACTIVITIES</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-365,571</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-640,523</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) PERMANENT INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ DISPOSITION OF PERMANENT INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) INVESTMENT IN PROPERTY, PLANT AND EQUIPMENT</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-386,381</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-645,429</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ SALE OF PROPERTY, PLANT AND EQUIPMENT</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) TEMPORARY INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ DISPOSITION OF TEMPORARY INVESTMENTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) INVESTMENT IN INTANGIBLE ASSETS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ DISPOSITION OF INTANGIBLE ASSETS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) ACQUISITIONS OF </font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red">VENTURES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ DISPOSITIONS OF </font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red">VENTURES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ DIVIDEND RECEIVED</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ INTEREST RECEIVED</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,110</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,906</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) DECREASE (INCREASE) ADVANCES AND LOANS TO THIRD PARTS</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-)+ OTHER INFLOWS (OUTFLOWS) OF CASH</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">14,700</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom; background-color: #D8D8D8">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>FINANCING ACTIVITIES</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-36,850</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-4,850</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ BANK FINANCING</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ STOCK MARKET FINANCING</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ OTHER FINANCING</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) BANK FINANCING AMORTISATION</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) STOCK MARKET FINANCING AMORTISATION</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
</table>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) OTHER FINANCING AMORTISATION</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+(-) INCREASE (DECREASE) IN CAPITAL STOCK</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) DIVIDENDS PAID</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ PREMIUM ON ISSUANCE OF SHARES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">+ CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) INTEREST EXPENSE</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-10,301</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-4,850</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-) REPURCHASE OF SHARES</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt; text-align: justify"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(-)+ OTHER INFLOWS (OUTFLOWS) OF CASH</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-26,549</font></td>
    <td style="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b><i>NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS</i></b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-151,982</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-535,225</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b><i>EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS</i></b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">10,424</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-233,343</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif">CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,984,730</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">8,102,314</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b><i>CASH AND CASH EQUIVALENTS AT END OF PERIOD</i></b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">6,843,172</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">7,333,746</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 6pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 52%">&nbsp;</td>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; width: 8%">&nbsp;</td>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; width: 10%">&nbsp;</td>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; width: 15%"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>QUARTER: 1</b></font></td>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; width: 15%"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>YEAR 2014</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="5" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.</b></font><br>
<font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>STATEMENTS OF CHANGES IN EQUITY&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">CLAVE DE COTIZACION: </font><font style="font-family: Arial, Helvetica, Sans-Serif"><b>SIMEC</b></font></td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="border-right: black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="border-right: black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>GRUPO SIMEC, S.A.B. DE C.V</b></font></td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="border-right: black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Calibri, Helvetica, Sans-Serif"><b>(THOUSAND PESOS)</b></font></td></tr>
<tr style="background-color: #FFFF99">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>CONCEPTS</b></font></td>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>CAPITAL STOCK</b></font></td>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>SHARES REPURCHASED</b></font></td>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>PREMIUM ON ISSUANCE OF SHARES</b></font></td>
    <TD STYLE="border-bottom: black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES</b></font></td></tr>
<tr>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>BALANCE AT 1 JANUARY 2013</b></font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,832,268</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,153,850</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">RETROSPECTIVE ADJUSTMENTS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #FFC000"><font style="font: 8pt Arial, Helvetica, Sans-Serif">APPLICATION OF COMPREHENSIVE INCOME&nbsp; TO RETAINED EARNINGS</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">&nbsp;RESERVES</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">&nbsp;DIVIDENDS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">CAPITAL INCREASE (DECREASE)&nbsp;</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">REPURCHASE OF SHARES</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(DECREASE) INCREASE IN PREMIUM ON ISSUE OF SHARES</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(DECREASE) INCREASE</font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red"> IN</font><font style="font: 8pt Arial, Helvetica, Sans-Serif"> NON-CONTROLLING INTERESTS</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER CHANGES</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">COMPREHENSIVE INCOME&nbsp;</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>BALANCE AT _31 MARCH 2013_________</b></font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #00B050; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,832,268</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #00B050; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #00B050; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,153,850</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #00B050; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>BALANCE AT 1 JANUARY 2014</b></font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,832,268</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,153,850</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">RETROSPECTIVE ADJUSTMENTS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: #FFC000"><font style="font: 8pt Arial, Helvetica, Sans-Serif">APPLICATION OF COMPREHENSIVE INCOME TO RETAINED EARNINGS</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">&nbsp;RESERVES</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">DIVIDENDS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
</table>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 52%"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">CAPITAL INCREASE (DECREASE)&nbsp;</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 8%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 10%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 15%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 15%">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">REPURCHASE OF SHARES</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(DECREASE) INCREASE IN PREMIUM ON ISSUE OF SHARES</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">(DECREASE) INCREASE</font><font style="font: 10pt Arial, Helvetica, Sans-Serif; color: red"> IN</font><font style="font: 8pt Arial, Helvetica, Sans-Serif"> NON-CONTROLLING INTERESTS</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">OTHER CHANGES</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">COMPREHENSIVE INCOME&nbsp;</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: white"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>BALANCE AT 31 MARCH 2014</b></font></td>
    <TD STYLE="border-right: Black 1pt solid; background-color: #00B050; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">2,832,268</font></td>
    <TD STYLE="border-right: Black 1pt solid; background-color: #00B050; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-right: Black 1pt solid; background-color: #00B050; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">4,153,850</font></td>
    <TD STYLE="border-right: Black 1pt solid; background-color: #00B050; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #00B050; text-align: right">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #00B050; text-align: right">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #00B050; text-align: right">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: #00B050; text-align: right">&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>QUARTER: 1</b></font></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>YEAR 2014</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="5" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.</b></font><br>
<font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>STATEMENTS OF CHANGES IN EQUITY&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif">CLAVE DE COTIZACION: </font><font style="font-family: Arial, Helvetica, Sans-Serif"><b>SIMEC</b></font></td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>GRUPO SIMEC, S.A.B. DE C.V</b></font></td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Calibri, Helvetica, Sans-Serif"><b>(THOUSAND PESOS)</b></font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red"><b>OTHER&nbsp; CONTRIBUTED CAPITAL</b></font></td>
    <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red"><b>RETAINED EARNINGS (ACCUMULATED LOSSES)</b></font></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red"><b>ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)</b></font></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; background-color: #0066CC; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>EQUITY ATTRIBUTABLE TO OWNERS OF PARENT</b></font></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; background-color: #0066CC; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>NON-CONTROLLING INTERESTS</b></font></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; background-color: #FFFF99; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>TOTAL EQUITY</b></font></td></tr>
<tr style="background-color: #FFFF99">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>RESERVES</b></font></td>
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red"><b>UNAPPROPRIATED EARNINGS </b></font><br>
<font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>(ACCUMULATED LOSSES)</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: silver; width: 35%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: silver; width: 5%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: silver; width: 12%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: silver; width: 12%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: silver; width: 12%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: silver; width: 12%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: yellow; text-align: center; width: 12%">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,000,000</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">15,662,517</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">167,049</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">23,815,684</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,851,698</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">25,667,382</font></td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">-361,603</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">361,603</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">-83,560</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-445,163</font></td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
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    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
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    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
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    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
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    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306,081</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306,081</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-118,768</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187,313</font></td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: green">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,000,000</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">15,968,598</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">-194,554</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">23,760,162</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,649,370</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">25,409,532</font></td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">769,582</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">17,179,070</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">11,918</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">24,946,688</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,328,277</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">26,274,965</font></td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">55,260</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">55,260</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif; color: red">3,682</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">58,942</font></td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td></tr>
</table>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 30%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 10%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 12%">&nbsp;</td>
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    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 12%">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;-26,549</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;-26,549</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-26,549</font></td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">326,939</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green"><font style="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326,939</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">-88,651</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: green; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">238,288</font></td></tr>
<tr style="vertical-align: bottom; background-color: silver">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: green">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">743,033</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">17,506,009</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">67,178</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">25,302,338</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">1,243,308</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Arial, Helvetica, Sans-Serif">26,545,646</font></td></tr>
</table>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Grupo Simec, S.A.B. de C.V. and Subsidiaries</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>(Subsidiary of Industrias CH, S.A.B. de C.V.) </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0"><B>Notes to the consolidated financial statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Nature
of business and relevant events</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 20pt; text-indent: 0pt; text-align: justify"><B><I>Nature
of business</I></B> <B><I>&ndash;</I></B> The principal activities of Grupo Simec, S.A.B. de C.V. and subsidiaries (the Company)
are the manufacture and sale of special bar quality &ldquo;SBQ&rdquo; commercial and profiles structural steel products for the
automotive and construction industries both in Mexico, the United States (USA) and Canada. The Company is a subsidiary of Industrias
CH, S.A.B. de C.V. (Industrias CH). The Company is a private company with limited liability incorporated and existing under the
laws of Mexico. The address of its registered office and place of business is Calzada Lazaro Cardenas 601, Guadalajara, Jalisco,
Mexico.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-right: 0; margin-left: 28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #1A171B"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1A171B"><B><I>Basis
of preparation</I></B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt; color: #1A171B; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1A171B">a.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1A171B"><B>The
consolidated financial statements-</B> As result of the adoption of IFRS mentioned in note 1, consolidated financial statement,
interim no audited, have been prepared according to IAS 34, financial information interim, and are part of the first consolidated
financial statement according to IFRS, issued to the year ended December 31, 2012, for this reason we have adopted the disposition
of IFRS 1, additionally , this consolidated financial statement not include the information and disclosure required for annual
financial statement according with IFRS.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 46.35pt; color: #1A171B; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1A171B; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
Company has included recurring adjustment accounting estimates considered necessary for presentation of the consolidated financial
statements interim no audited according to IAS 34. Comprehensive income for the fourth quarter ended December 31, 2012 is not
necessarily an indicator of comprehensive income that could be expected for the year ended December, 31 2012.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1A171B; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
account policies applied to these financial statement are consistent with those applied to the consolidated financial statement
at December 31, 2011.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1A171B; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
financial statements presented on this report were prepared under International Financial Reporting Standard (IFRS).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 46.35pt; color: #1A171B; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1A171B">b.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1A171B"><B>Historic
Cost</B>- consolidated financial statement have been prepared on the historical cost basis, except for certain financial instruments
valued to fair value which are valued to fair value. Historical cost is generally based on the fair value of the consideration
given in exchange for assets.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; color: #1A171B; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #333333">c.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Consolidated
Base</B>-consolidated financial statement include of Grupo Simec, S. A. B. de C. V. and the entities (including special purpose
entities) controlled by the company (its subsidiaries). Control its obtained when the Company has the power to govern the financial
and operating policies of an entity to obtain benefits from its activities<FONT STYLE="color: #333333">. The outcome of subsidiaries
acquired or sold during the year include in the consolidated statement of comprehensive income from acquisition date or the date
of sale, as the case. Comprehensive income is attributed to both, the company and non-controlling interest even if the non- controlling
present a deficit.</FONT></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">If
necessary, further adjustments are done on the financial statements of subsidiaries to adapt their accounting policies that are
aligned with those used by other group members. All transactions, balances, income and expenses between companies that are consolidated
are eliminated on consolidation.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
changes in investments in subsidiaries of the company that not resulting in a loss of control is recorded as equity transactions.
The book value of investments and equity of the company controlled not adjusted to reflect changes in related investments in subsidiaries.
Any difference between the amount for which share are adjusted not controlled and the fair value of consideration paid or received
is recognized directly in equity and attributed to the owners of the company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">When
the company loss control of a subsidiary, the gain or loss on disposal is computed as the difference between (i) the aggregate
fair value of compensation received ant the fair value of any retained interest and (ii) the value prior books of the assets (including
goodwill) and liabilities of the subsidiary and any non-controlling interest.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
amounts recognized in other comprehensive income items relating to the subsidiary are recorded (ie to income are reclassified
or transferred directly to retained earnings) in the same manner established for the case of the availability of assets or liabilities
relevant. The fair value of any investment retained in the former subsidiary at the date of loss of control is considered fair
value for the initial recognition in subsequent accounting according to IAS 39 &ldquo;Financial Instruments Recognition and Measurement&rdquo;,
or if applicable, the cost on initial recognition of an investment in an associate or under joint control entity.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Business
acquisitions recorded using the purchase method. The consideration given for each acquisition are measured at fair value at the
date of exchange, of assets given, liabilities incurred or assumed and equity instruments issued by the company in exchange for
control of the acquire. Cost related to the acquisition is recognized in income incurred.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
identifiable assets acquired and liabilities assumed are recognized at the fair value at the acquisition date, except that:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 70.8pt; text-align: justify">-Assets and liabilities deferred
income tax liabilities or assets and related agreements, employee benefits are recognized and valued in accordance with IAS 12,
&ldquo;Income tax and IAS 19, employee benefits, respectively;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 70.8pt; text-align: justify">-Liabilities or equity instruments
related to the replacement by the Company acquired the business incentive base payments in shares, are valued in accordance with
IFRS 2, &ldquo;Share based payment&rdquo; and.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
assets or group of assets for sale are classified as held for sale under IFRS 5, long term assets available for sale and discontinued
operation, are valued pursuant with this standard.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Goodwill
is recognized as an asset to the date on which control is acquired, ie the acquisition date and is valued as the excess of the
amount of the consideration paid, plus the value of the non-controlling interest in the business acquired over the fair value
of the acquired business share in the previously possessed, if any, on the net at the acquisition date of the identifiable assets
acquired and liabilities assumed. If the value of these last is higher, the difference shall be recognized immediately in income
as a gain from a bargain purchase.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
non-controlling interest on the acquired business should appraise initially at fair value or proportion of the non-controlling
interest on the net value at the date of acquisition of the identifiable assets acquired and liabilities assumed. The choice of
the basis of valuation of the non-controlling is done case by case.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">When
the consideration paid by the Company in a business acquisition includes assets or liabilities resulting from a contingent consideration,
it is valued at its fair value at the acquisition date and include as part of the consideration paid.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.4pt; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Changes
in the fair value of contingent consideration, which they describe as valuation period settings are adjusted against goodwill
retrospectively determined.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
valuation period settings are settings that are determined as a result of information obtained during the &ldquo;period of valuation&rdquo;,
which can&acute;t exceed one year from the date of acquisition, on facts and</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">circumstances
that existed at the acquisition date. The record of changes in fair value subsequent to the period of valuation is based on the
classification of contingent consideration in the statement of financial position. If the contingent consideration is classified
as equity, changes in fair value not recorded and the variation may be seen as contingent consideration is recorded in liquid
capital. If the contingent consideration is classified an asset or liability, changes in fair value are recognized in accordance
with IAS 39 &ldquo;Financial Instruments Recognition and Valuation, or IAS 37, Provisions. Contingent Liabilities and Contingent
assets, as appropriate, and corresponding gain or loss is recorded in the utility.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
initial recognition of business acquisition is not completed at the end of the reporting period, in which acquisition occurs,
the Company reported provisional amounts for the items whose recognition is incomplete. During the period of valuation, the Company
recognizes adjustments to provisional amounts recognized asset or liability or additional requirements to reflect new information
obtained about facts and circumstances that existed at the acquisition date, which if known, would have affected the valuation
of amounts recognized at that time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">At
March 31, 2014 the subsidiaries of Grupo Simec, S. A. B. de C. V. included in the consolidation are as follows.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0.8pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1.7pt 32.85pt 0 0; text-align: right"><B>Percentage of equity owned</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 72%; padding-top: 4.05pt; padding-left: 2pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Subsidiaries established in Mexico:</b></font></td>
    <td style="width: 13%; border-top: #ACA89A 1.5pt solid; border-bottom: #ACA89A 1.5pt solid; padding-top: 4.05pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2013</b></font></td>
    <td style="width: 15%; border-top: #ACA89A 1.5pt solid; border-bottom: #ACA89A 1.5pt solid; padding-top: 4.05pt; padding-right: 30.75pt; padding-left: 30.9pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2012</b></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">Compa&ntilde;&iacute;a Sider&uacute;rgica de Guadalajara, S.A. de C.V.</font></td>
    <td style="padding-top: 4.05pt; padding-left: 26.5pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td>
    <td style="padding-top: 4.05pt; padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Arrendadora Simec, S.A. de C.V.</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Simec International, S.A. de C.V.</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Compa&ntilde;&iacute;a Sider&uacute;rgica del Pac&iacute;fico, S.A. de C.V.</font></td>
    <td style="padding-left: 26.55pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Coordinadora de Servicios Sider&uacute;rgicos de Calidad, S.A. de C.V.</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Industrias del Acero y del Alambre, S.A. de C.V.</font></td>
    <td style="padding-left: 26.5pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Procesadora Mexicali, S.A. de C.V.</font></td>
    <td style="padding-left: 26.5pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Servicios Simec, S.A. de C.V.</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Sistemas de Transporte de Baja California, S.A. de C.V.</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Operadora de Servicios Sider&uacute;rgicos de Tlaxcala, S.A. de C.V.</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Operadora de Metales, S.A. de C.V.</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Administradora de Servicios Sider&uacute;rgicos de Tlaxcala, S.A., de C.V.</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 2pt"><font style="font: 10pt Times New Roman, Times, Serif">CSG Comercial, S.A. de C.V.</font></td>
    <td style="padding-left: 26.55pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.95%</b></font></td>
    <td style="padding-left: 26.55pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.95%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Corporativos G&amp;DL S.A. de C.V.(1)</font></td>
    <td style="padding-left: 26.55pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Operadora de Servicios de la Industria Sider&uacute;rgica ICH, S.A. de C.V.</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Corporaci&oacute;n Aceros DM, S. A. de C. V. y Subsidiarias (2)</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Acero Transportes San, S. A. de C. V. (2)</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Simec Acero, S.A. de C.V.</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Corporaci&oacute;n ASL, S. A. de C. V. (1)</font></td>
    <td style="padding-left: 26.55pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Simec International 6, S. A. de C. V. (1)</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Simec International 7, S. A. de C. V. (1)</font></td>
    <td style="padding-left: 26.55pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Simec International 8, S. A. de C. V. </font></td>
    <td style="padding-left: 26.55pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Simec International 9, S. A. P. I. de C.V. </font></td>
    <td style="padding-left: 26.55pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td>
    <td style="padding-left: 2pt; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Orge, S.A. de C.V.</font></td>
    <td style="padding-left: 26.55pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>99.99%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Republic Steel(3) (4)</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>&nbsp;&nbsp;50.22%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>52</b></font><b><font style="font-size: 10pt">.00%</font></b></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Pacific Steel, Inc. (4)</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Pacific Steel Projects, Inc. (4)</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Simec Steel, Inc. (4)</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Simec USA, Corp. (4)</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 2pt"><font style="font: 10pt Times New Roman, Times, Serif">Undershaft Investments, NV. (5)</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 24.05pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">GV do Brasil Industria e Comercio de Aco LTDA (6)</font></td>
    <td style="padding-left: 24.05pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td>
    <td style="padding-left: 2pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>100.00%</b></font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Entities
established in 2010.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">This
Subsidiaries are located in San Luis Potosi, in Mexico, which were acquired by Grupo Simec, S.A.B. de C.V. in 2008. For effects
of these Financial Statements, this companies are named as &rdquo;Grupo San&rdquo;.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">The
parent Company ICH it&rsquo;s the owner of 49.78% of capital stock of this subsidiaries.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Companies
established in the United States of America, except for one facility that is established in Canada.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Subsidiary
established in Curacao.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(6)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Company established in
                                                                                                                                            Brazil.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">d</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Cost
and Expenses Classification - Are presented its function due the practice of industry belong the Company.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 1.7pt 0 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 20pt; text-align: left"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Summary of significant account policies.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0.65pt 0 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>a.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Conversion
of financial Statement of Foreign Subsidiaries</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 23.3pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">As
a result of early adoption of IFRS as mentioned in Note 1, the financial statements have been prepared in accordance with IFRS-1,
<I>First-time Adoption of International Financial Reporting Standards.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; text-align: justify; color: #1A171B; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
functional and reporting currency of the Company is the Mexican peso. The financial statements of foreign subsidiaries were translated
to Mexican pesos in accordance with International Accounting Standard (IAS) 21, <I>&ldquo;The Effects of Changes in Foreign Exchange
Rates&rdquo;</I>. Under this standard, the first step to convert financial information from foreign operations is the determination
of the functional currency. The functional currency is the currency of the primary economic environment of the foreign operation
or, if different, the currency that mainly impacts its cash flows.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
U.S. dollar is considered as the functional currency of the U.S. subsidiaries, SimRep Corporation and Subsidiaries, Inc (Republic)
and Pacific Steel Inc. and the Brazilian real for GV do Brasil Industria e Comercio de Aco LTDA., therefore the financial statements
of these subsidiaries were translated into Mexican pesos by applying:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; color: #1A171B; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 40pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1A171B">a.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">The
exchange rates at the balance sheet date to all assets and liabilities.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 78pt; text-align: justify; text-indent: -21.3pt; color: #1A171B">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 40pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1A171B">b.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">The
historical exchange rate at stockholders&rsquo; equity accounts and revenues, costs and expenses.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; text-align: justify; text-indent: -15.3pt; color: #1A171B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 78pt; text-align: justify; text-indent: -21.3pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Relevant
exchange rates used in the preparation of the consolidated financial statements were as follows (Mexican pesos per one U.S. dollar):</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 64%"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Current exchange rate as of March 31, 2013</font></td>
    <TD STYLE="width: 28%; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">12.3546</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0">Current exchange rate as of June 30, 2013</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0">Current exchange rate as of September 30, 2013</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0">Current exchange rate as of December 31, 2013</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0">Current exchange rate as of March 31, 2014</P></td>
    <TD>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">13.0235</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">13.1450</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">13.0652</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">13.0841</P></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0.6pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>b.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Cash
and cash equivalents</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0.85pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Cash
consists of deposits in bank accounts that do not generate interest. Cash equivalents consists in temporary investments refer
to short- term fixed income investments whose original maturity is less than three months. These investments are expressed at
cost plus accrued yields. The value so determined is similar to their fair value</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 10.55pt 0 23.3pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>c.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Allowances
for doubtful accounts</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0.95pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
Company follows the practice of recording an estimation of an allowance for doubtful accounts, which is computed considering the
balance of customer with age higher than one year, those under litigation or the possible loss for non-fulfillment of the customer.
Actual result may differ materially from these estimates in the future.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>d.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Inventories
and cost of sales</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0.95pt 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Inventories
are recorded at the lower of acquisition cost and production, which cost do not exceed the market value or net realizable value.
The allocation of cost used is the average cost method. The net realization value represent the estimated selling price for inventories
less all costs to complete all necessary costs and for sale.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 44pt; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
Company classifies the raw materials inventory on the balance according to the expected date of consumption but she represented
as long term inventory who according to historical data and trends, are not consumed in the short term (one year).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 44pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
Company follows the practice of creating a reserve for slow moving inventory, considering all of products and raw materials with
turnover greater than one year.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>e.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Property
Plant and equipment</B>- Are recorded at cost less any recognized impairment loss. The cost include professional fees and, for
qualifying assets, borrowing costs capitalized in accordance with the accounting policies of the Company. Depreciation is recognized
for writing off the cost of assets (other than land and properties under construction) less its residual value over their useful
lives using the straight-line method, and commences when the assets are ready for their intended use. The estimated useful-lives,
residual values and depreciation method are reviewed at the end of each year, and the effect of any change in the estimate recorded
is recognized on a prospective basis.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Land
is not depreciated.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Property,
plant and equipment fail to recognize when they are available or when no future economic benefits expected from its use. The gain
or (loss) arising on the disposal or retirement of assets, is the difference between income from the sale and book value of the
asset and is recognized in income.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
estimated useful lives of the main assets of the Company are:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in"></P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 40pt">&nbsp;</td>
    <TD STYLE="text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Years</b></font></td></tr>
<tr>
    <TD STYLE="padding-left: 40pt">&nbsp;</td>
    <TD>







































<hr size="1" noshade align="center" style="width: 100%; color: #A0A0A0">

        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: #A0A0A0; text-indent: 0.5in">&nbsp;</P></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 40pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Buildings</font></td>
    <TD STYLE="text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">10 to 65</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 40pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Machinery and equipment</font></td>
    <TD STYLE="text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">5 to 40</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 40pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Transportation equipment</font></td>
    <TD STYLE="text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">4</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="padding-left: 40pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Furniture, mixtures and computer equipment</font></td>
    <TD STYLE="text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">3 to 10</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>f.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Leasing</B>-
Leases are classified as financial leases when the terms of the lease transfer substantially all the risk and benefits inherent
to ownership. All other lease transfer classified as operating leases.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
assets held under finance leases are recognized as assets of the Company at their fair value at inception of the lease, or if
lower, the present value of minimum lease payments. The corresponding liability to the lessor is included in the statement of
financial position as a finance lease liability.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Lease
payments are apportioned between the finance charge and the reduction of lease obligation in order to achieve a constant interest
rate on the remaining balance of the liability. Finance cost are charged directly to income, unless they can be directly attributable
to qualifying assets, in which case it is capitalized in accordance with the general policy of the Company for borrowing costs.
Contingent rents are recognized as expenses in the period incurred.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Income
payments under operating leases are charged to expense using the straight line method during the period corresponding to the lease,
but is more representative of another systematic basis is more representative of the pattern of the benefits of leasing for the
user. Contingent rents are recognized as expenses in the period incurred.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">If
the Company receives incentives to enter an operating lease, these are recognized as a liability and the added benefit of them
is recognized as a reduction of rental expenses on a straight-line basis, unless it sis representative as another systematic basis
is more representative of the pattern of benefits to the user.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>g.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Borrowing
Cost</B>. Borrowing costs directly attributable to the acquisition construction or production of qualifying assets, which are
assets that require a substantial period of time until ready for use or sale, are added to the cost of those assets during that
time until they are ready for use or sale.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
income obtained by the temporary investment of specific borrowings pending funds to be used in qualifying assets is deducted from
the borrowing costs eligible for capitalization.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">All
other borrowing cost are recognized in income during the period they are incurred.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>h.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Intangible
assets</B>- Intangible assets with finite useful- lives acquires separately are recorded at cost less accumulated amortization
and accumulated impairment losses. Amortization is based on the straight-line method over their estimated useful lives. The estimated
useful lives, residual value and amortization method are reviewed at the end of each year, and the effect of any change in the
estimate recorded is recognized on a prospective basis. Intangibles assets with as indefinite useful life acquired separately
are recognized at cost less accumulated impairment losses.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 28.35pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Disbursements
arising from research activities are recognized as an expense in the period in which incurred.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">An
internally generated intangible asset arising out of activities of development (or from the development phase of an internal project)
is recognized if and only if all the following have been demonstrated.</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Technical feasibility of completing the intangible asset so that may be available for use or sale,</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The intention of completing the intangible asset and use or sell it,</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The ability to use or sell the intangible asset,</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The manner in which the intangible asset will generate probable future economic benefits,</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The availability of adequate technical, financial or otherwise , to complete the development and use or sell the intangible asset, and</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The ability to value reliably the expenditure attributable to the intangible asset during its development.</font></td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">The
amount initially recognized for internally generated intangible asset is the sum of expenditure incurred from the time that the
item meets the conditions for recognition set out above. When you can&acute;t recognize an internally generated intangible asset,
the development expenditure is expensed in the period incurred Subsequent to initial recognition, internally generated intangible
asset is recognized at cost less accumulated depreciation and any accumulated impairment losses, on the same basis intangibles
assets acquired separately.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">When
an intangible asset acquired in a business combination and recognized separately from goodwill, its cost is its fair value at
the acquisition date (which is considered as its cost). Subsequent to initial recognition, an intangible asset acquired in a business
combination are recognized at cost less accumulated depreciation and any accumulated impairment losses, on the same basis as intangible
assets acquired separately.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">An
intangible asset is left to recognize when it is available or when no future economic benefits are expected to use. The gain or
(loss) obtained arising from the lowering of intangible, calculated as the difference between the net disposal proceeds and its
carrying amount is recognized in earnings.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>i.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Goodwill</B>-
Goodwill arising from a business combination is recognized as an asset at the date on which control is acquired (acquisition date)
less accumulated impairment losses. For purposes of assessing impairment, goodwill is allocated to each cash generating units
of the Company expects to benefit from the synergies of this combination. The cash generating units to which goodwill is allocated
are subject to impairment reviews annually, or more frequently if there is an indication that the unit may be impaired. If the
recoverable amount of the cash generating units less than the carrying amount of the unit, the impairment loss is allocated first
to reduce the carrying amount of the unit, based on the carrying amount of each asset in the unit. The impairment loss recognized
for goodwill purposes can&acute;t be reversed at a later period. Having a cash generating unit, the amount attributable to goodwill
is included in determining the gain or loss on disposal.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>j.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Impairment
</B>of tangible and intangible assets excluding goodwill- To the end of each year, the Company reviews the carrying amounts of
its tangible and intangible assets to determine whether there is an indication that those assets have suffered any loss deterioration.
If there is any indication, we calculate the assets have recoverable amount to determine the extent of the impairment loss (if
any). When it is not possible to estimate the recoverable amount of an individual asset, the Company estimate the recoverable
amount of the cash generating unit to which the asset belong. When you can identify a reasonable and consistent distribution of
corporate assets are also allocated to individual cash generating units, or otherwise, are assigned to the smallest group of cash
generating units for which can be identified based reasonable and consistent distribution. Intangible assets with an indefinite
useful life or not yet available for use, are subjected to test for purposes of impairment at least annually and whenever there
is an indication that the asset may be impaired. The recoverable amount is the higher of fair value less cost to sell and value
in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate
before tax that reflects current market assessments of the value of money and the risks specific to the asset for which have not
been adjusted estimates of future cash flows. If it is estimated that the recoverable amount of an asset (or cash generating unit)
is less than its carrying amount, the carrying amount of the asset (cash generating unit) is reduced to its recoverable amount.
Impairment losses are recognized immediately in profit or loss unless the assets is carried at revalued amount, in which case
should be considered an impairment loss as a revaluation decrease, where an impairment loss subsequently reverses, the carrying
amount of the asset (cash generating unit) is increased to the revised estimated recoverable amount, so that the increased carrying
amount does not exceed the carrying amount is have not been determined whether an impairment loss recognized for the asset (or
cash generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss unless the
assets is recognized to an amount revalued in which case the reversal of the impairment loss is treated as a revaluation increase.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>k.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Provisions
</B>-. Provisions are recognized when the Company has a present obligation (legal or assumed) as a result of past events, if it
is likely that the Company has to liquidate the obligation and reliable estimate can be made of the amount of the obligation.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 60pt; text-indent: 0pt; text-align: justify">The
amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the end
of the reporting period under review, taking into account the risk and uncertainties that surround obligation. When a provision
is valued using cash flows estimated to settle the present obligation, its carrying amount represent the present value of those
cash flows.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 60pt; text-indent: 0pt; text-align: justify">When
expected to recover from a third party of some or all the economic benefits required to settle a provision is recognized a receivable
as an asset if it is virtually certain to be received the disbursement and the amount of the receivable can be valued reliably.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>l.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Cost
of retirement benefits</B>. Contributions to benefit plans to defined contribution retirement are recognized as expenses at the
time the employees render the services that entitle them to the contributions.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">In
the case of defined benefit plans, the cost of such benefits are determined using the projected unit credit method, with actuarial
valuation carried out at the end of each period being reported. Gain and losses that exceed 10% of the greater of the present
value of defined benefit obligations of the Company and the fair value of plan assets at the end of last year, are amortized over
the estimated average remaining working lives of employees participating in the plan. The past service costs are recognized immediately
to the extent that benefits are acquired otherwise, are amortized using the straight-line method over the average period until
the benefits become acquired.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
retirement benefit obligation recognized in the statement of financial position represent the present value of defined benefit
obligation, adjusted for gains and losses not recognized and the costs of unrecognized past service, less the fair value of the
plan assets. Any asset that arises from this calculation is limited to unrecognized actuarial losses and past service cost, plus
the present value of reimbursements and reductions in future contributions to the plan.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>m.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Income
per share</B>- Earnings per share are calculated by dividing net income controlling interest by the weighted average of common
shares outstanding for each of the periods presented.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>n.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Income
Taxes</B>. Expense for income taxes represent the sum of the resulting income taxes payable and deferred income tax.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify"><B>Current
Income Tax</B>- The current income tax is the higher income tax (ISR) and the flat rate business tax (Flat Tax) and is recognized
in income in the year they are incurred. The income tax payable is based on fiscal profits and cash flows of each year respectively.
The fiscal profit differs from profit reported in the consolidated statement of comprehensive income due to items of income or
expenses taxable and deductible in other years and items that are never taxable or deductible. The company&acute;s liability for
taxes due is computed using tax rates enacted or substantially approved at the end of the period over which it is reported.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify"><B>Deferred
Income Tax</B>- The company determined, based on financial projections, determine whether ISR or Flat Tax in the future and recognize
the corresponding deferred tax on the tax it paid. Deferred tax is recognized temporary differences between the carrying amount
of assets and liabilities included in the financial statements and the corresponding tax base used to determine the tax profit,
using the liability method. The deferred tax liability is generally recognized for all temporary tax differences. It recognizes
a deferred tax asset, because of all deductible temporary differences, as far as is probable that the future taxable profits available
against which to apply those deductible temporary differences. These assets and liabilities are not recognized if temporary differences
arise from goodwill or the initial recognition (other than the business combination) of other assets and liabilities in a transaction
that affects neither the tax profit accounting profit.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
carrying value of deferred tax asset should be reviewed at the end of each year and should be reduced to the extent deemed unlikely
to have sufficient taxable profits to allow it to recover all or a portion of the asset.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Assets
and deferred tax liabilities are computed using tax rates expected to apply in the period when the liability is paid or the asset
is realized, based on the rates (and tax act) that have been approved or substantially approved the end of the reporting period
under review. The valuation of liabilities and deferred tax assets reflects the tax consequences that would result from the way
the Company</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">expects,
at the end of the reporting period under review, to recover or settle the carrying amount of assets and liabilities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">It
also recognizes a deferred tax asset for the estimated future effects of tax loss carry-forwards and tax credits recoverable asset.
It records a valuation allowance to reduce the balance of deferred tax assets to the amount of future net benefits are more likely
than not they do.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Deferred
tax assets and deferred tax liabilities are offset when there is a statutory right to offset short-term assets with short term
liabilities as they relate to income taxes for the same taxation authority and the Company intends to liquidate its assets and
liabilities en a net basis.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify"><B>Current
income tax and deferred income tax period</B>. Current and deferred are recognized as income or expense in profit or loss, except
when related items that are recognized out of the income, either in other comprehensive income or (loss) or directly in equity,
in which case the tax is also recognized outside of the outcome, or when arising on initial recognition of a business combination.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify"><B>Interest
on balance recoverable taxes</B>- Interest on tax receivables balances are presented in the consolidated statement of comprehensive
income as interest income.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify"><B>Income
Tax in the interim period</B> - The income tax is recorded in the interim period based on the estimated annual effective rate.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Foreign
currency transaction</B>- In preparing the financials statements of individual entities, transaction in currencies other than
the entity&acute;s functional currency (foreign currencies) are recorded using exchange rates prevailing at the dates on which
operations are carried out. At the end each reporting period, monetary items denominated in foreign currency are converted at
exchange rates prevailing at that time.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
exchange rate differences are recognized in the income statement except:</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Foreign exchanges differences from foreign currency denominated loans relate to assets under construction for future productive use, which are included in the cost of those assets when considered as an adjustment to interest cost on loans denominated in foreign currency,</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify">&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Differences on exchange derived from transaction related to hedging exchange rate risks, and</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify">&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Differences in exchange rate from monetary items receivable from or payable to a foreign operation for which it is planned or is it possible to make a payment (forming part of the investment in foreign operations), which are initially recognized in other comprehensive income and reclassified from equity to profit or loss when selling all or part of investment.</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify">&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>p.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Financial
Instruments</B> &ndash; assets and liabilities are recognized when the Company is part of the contractual provisions of the instrument.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
assets and liabilities are measured initially at fair value. Transaction costs that are directly attributable to the acquisition
or issue of financial assets and liabilities are increased or decreased from its fair value, as appropriate, on initial recognition,
the transaction costs directly attributable to the acquisition of assets or liabilities at fair value through income is recognized
immediately in earnings.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">q-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Financial
assets- Financial assets are classified into the following specific categories, &ldquo;financial assets at fair value through
income&rdquo;, &ldquo;preserved at maturity investment&rdquo;, &ldquo;financial assets available for sale&rdquo; and loans and
charge receivable. The classification depends on the nature and purpose of financial assets and is determined at the time of initial
recognition. All financial assets are recognized and unknown on trade date where purchase or sale of financial assets is under
a contract whose terms require delivery of the asset during a period which is usually set by the relevant market.</FONT></TD>
</TR></TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">the
asset during a period which is usually set by the relevant market.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
method of the effective interest rate is a method of computed the amortized cost of a financial instrument and of allocating interest
income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts
including all fees on points based on interest paid or received that form an integral of the effective interest rate, transaction
costs and other premiums or discounts over the expected life of the debt or financial instrument (where appropriate) in a shorter
period, with the carrying amount on initial recognition.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">The
Company has no financial assets classified as &ldquo;financial assets at fair value through income&rdquo;, &ldquo;preserved at
maturity investments&rdquo; or &ldquo;financial assets available for sale&rdquo;,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Accounts
receivable, loans and other receivable with fixed or determinable payments that are not trade in an active market are classified
as loans and receivable. Loans and receivables are stated at amortized cost using the effective interest method, less any impairment.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">Financial
assets other than financial assets at fair value through income, are subject testing for effects of impairment at the end of each
period which is reported. It is considered that financial assets are impaired when there is objective evidence that as a result
of one or more events that occurred after initial recognition of financial asset, the estimated future cash flows of the financial
assets have been affected.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">The
estimates and underlying assumption are reviewed on a regular basis. The reviews at accounting estimates are recognized in the
period of the review and future periods if the review affects both current period and to subsequent periods.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">Objective
evidence of impairment could include:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Significant financial difficulties of the issuer or counterparty, or</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Non-payment of interest or principal, or</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">It is likely that the borrower will enter bankruptcy of financial reorganization, or</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The disappearance of an active market where quoted by the financial asset because of financial difficulties.</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">For
certain categories of financial assets such as accounts receivables, assets that have been subjected to testing for effects impairment
and have not been impaired as individual, are included in the evaluation of impairment on a collective basis. Among the objective
evidence that a portfolio of accounts receivable may be impaired, you could include the past experience of the Company with respect
to the collection, an increase in the number of last payments in the portfolio in excess of the average credit period of 60 days
as well as changes observable in national and local economic conditions that correlate with default on payments.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">For
financial assets carried at amortized cost, the amount of impairment loss recognized is the difference between the book value
of assets and present value of future cash receipts discounted at the original effective interest rate of the asset financial.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">The
carrying value of financial assets is reduced by the impairment loss directly for all financial assets except for accounts receivable,
where the carrying amount is reduced through an account estimate for doubtful accounts. When you consider that a receivable is
uncollectible, it is removed from the estimate. The subsequent recovery of amounts previously deleted become claims against the
estimate. Changes in the carrying value of the account of the estimate is recognized in income.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">Except
for equity instruments available for sale, if, in a subsequent period, the amount of the impairment loss decreases and this decrease
can be related objectively to an event that occurs after recognition of impairment, impairment loss previously recognized is reversed
through income to the extent that the carrying amount of investment to date reversed the impairment does not exceed the amortized
cost would have been if he had not recognized the damage.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">The
company fails to recognize a financial asset only when the contractual rights on the cash flows of financial assets, and transfers
substantially all the risk and benefits inherent to the ownership of financial assets. If the Company neither transfer not retains
substantially all the risks and benefits inherent to the ownership and continues to retain control of the asset transferred, the
Company recognizes its interest in the asset and liability associated to the amounts that would have to pay. If the Company retains
substantially all risks and benefits inherent in ownership of transferred financial asset, the Company continues to recognize
the financial asset and also recognizes collateral for loan funds received.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">When
fully unknown a financial asset, the difference in value of the asset and the amount of the consideration received and the cumulative
gain or loss that has been left to recognize in other comprehensive income (loss) and accumulated in the equity is recognized
in income.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">Not
knowing a financial asset in part (where the Company retains the option to repurchase part of a transferred asset, or retains
a residual interest that does not result in the retention of substantial risk and benefits property and the company retains control),
the Company distributed the previous value of the asset financial between the part that continues to be recognized and the part
no longer recognized based on the fair value of those parts of the date of transfer. The difference between the carrying amount
allocated to the party is no longer recognized and the amount of the consideration received by such party, and any cumulative
gain or loss allocated to it has been recognized in other comprehensive income (loss) will be recognized in income.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">s.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Financial
liabilities </B>&ndash; debt and equity instruments issued by the Company are classified as either financial liabilities or equity
in accordance with the substance of the contractual arrangements and the definition of a financial liability and equity instrument.
Financial liabilities are classified either as &ldquo;financial liabilities at fair value through income &ldquo;or&rdquo; other
financial liabilities&rdquo;-</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">Financial
liability at fair value through income is a financial liability is classified as held trading or is designated as fair value through
income.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">A
financial liability is classified as held for trading if:</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Is acquired principally for the purpose of repurchasing in the near future, or,</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">On initial recognition is part of identified financial instruments that are managed together and for which there is evidence of a recent pattern of making short-term profits, or</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">It is a derivative not designed as hedges and meet the conditions to be effective.</font></td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 9; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">A
financial liability other than a financial liability held for trading may be designated as an financial liability at fair value
through profit or loss upon initial recognition if:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">This eliminates or significantly reduces an inconsistency in the valuation or recognition that would otherwise arise, or</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The performance of a group of financial assets, financial liabilities or both is managed and evaluated on the basis of fair value, according to an investment strategy or risk management that the entity&acute;s documented, and provide internally about that group, based on their fair value or,</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 216px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <td style="padding-right: 4.8pt; text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Part of a contract containing one or more embedded derivatives, and IAS 39, Financial instruments Recognition and Measurement, allow the entire hybrid contract (asset or liability) is designated as at fair value through income.</font></td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">Financial
liabilities at fair value through income are recorded at fair value recognize any gain or loss arising from the remediation in
the income statement. The gain or loss recognized in the statement include any dividend or interest earned from the financial
asset and is included under the heading &ldquo;other gains and losses&rdquo; in the statement of comprehensive income.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 46.35pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">Other
financial liabilities, including loans, are valued initially at fair value, net of transaction costs. The method of effective
interest rate is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the
relevant period. The effective interest rate is the rate exactly discounts estimated cash payments over the expected life of the
financial liability (or, where appropriate, a short period) to the carrying amount financial liabilities on initial recognition.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">The
Company writes off financial liabilities if and only if, the Company&acute;s obligations are fulfilled, cancelled or expire. The
difference between the carrying amount of financial liability discharged from and the consideration paid and payable is recognized
in earnings.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify"><B>t
&nbsp;&nbsp;&nbsp;Derivative financial instruments</B> &ndash; The Company uses derivative financial instruments to manage its exposure to risk
in the changes in natural gas prices, which is used for production, conducting studies on historical volumes, future requirements
or commitments, reducing the exposure to risks outside the normal operation of the Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 4.8pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">Derivatives
are initially recognized at fair value at the date the derivative contract subscribe and then remiden at fair value at the end
of the reporting period. The gain or loss is recognized in income immediately unless the derivative is designated and is effective
as a hedging instrument, in which case the timing of the recognition results depend on the nature of the hedging relationship.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">In
order to mitigate the risks associated with fluctuations in the price of natural gas, whose price is based on supply and demand
from major markets, the Company uses exchange contracts or swaps cash flow of natural gas, where price the Company receives floating
and pays fixed price. Fluctuations in the price of this energy input from consumed volumes are recognized as part of the operating
costs of the Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">At
the beginning of the hedging relationship, the Company documents the relationship between the hedging instrument and hedged item,
along with its risk management objective and strategy of hedging transactions. Additionally, the inception of the hedge and on
an ongoing basis, the Company documents whether the hedging instrument is highly effective in offsetting the exposure to change
in fair value or changes in cash flows of the hedged item.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">The
effective portion of changes in the fair value of derivatives that are designated and qualify as cash flows hedges is recognized
in other comprehensive income and accumulated under the title of the fair value of derivative financial instruments, net of profit
taxes. Gains and losses on the ineffective portion of the hedging instrument is recognized instrument is recognized immediately
in income, and is included in other income (expense)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">The
Company periodically assesses the changes in cash flows from derivative financial instruments to analyze if the swaps are highly
effective in reducing exposure to fluctuations in the price of natural gas. A hedging instrument is considered highly effective
when changes in fair value or cash flows of the primary position are compensated on a regular basis or as a whole, by changes
in the fair value or cash flows of the hedging instrument in a range between 80% and 125%.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">Amounts
previously recognized in other comprehensive income and accumulated in equity are reclassified to earning in the periods when
the hedged item is recognized in income in the same area of the statement of comprehensive income of hedged item recognized. However,
when a forecast transaction that is covered gives rise to the recognition of a non-financial asset or liability is not financial
gain or loss previously accumulated in equity are transferred and include in the initial valuation of the cost of the asset does
not financial or nonfinancial liabilities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0; text-indent: 0; text-align: justify">Hedge
accounting is discontinued when the Company reverses the hedging relationship, when the hedging instrument expires or is sold,
terminated, or exercised, or no longer meets the criteria for hedge accounting. Any cumulative gain or loss on the hedging instrument
that is recognized in equity remain in equity until the forecast transaction is ultimately recognized in the results. When no
longer expects the forecast transaction occurs, the cumulative gain or loss in equity is immediately reclassified the results.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 20pt; text-indent: 0pt; text-align: justify"><B><I>u.&#9;&nbsp;&nbsp;Revenue
recognition</I> </B><I>&ndash;</I><B> </B>Revenue is recognized in the period in which transfer the risks and benefits of inventories
to customer who purchased them, which usually coincides with the delivery of products to customers in fulfilling their orders.
Net sales represent the goods sold at list price, less returns received and discounts.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 20pt; text-indent: 0pt; text-align: justify"><B><I>V.&#9;&nbsp;&nbsp;&nbsp;Segments
Information</I> </B><I>&ndash;</I><B> </B>Segment information is presented in accordance with the region and due to the operation
business is presented in accordance with the information used by management for decision making purposes.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt; text-align: left"><B>w.</B></TD><TD STYLE="text-align: justify"><B>Earnings (loss) per share</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 40pt; text-indent: 0pt; text-align: justify">Income
per share is calculated by dividing controlling net income or loss, by the weighted average shares outstanding during each year
presented.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 31%; border-top: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="width: 28%; border-top: Black 1pt solid">&nbsp;</td>
    <TD STYLE="width: 8%; border-top: Black 1pt solid">&nbsp;</td>
    <TD STYLE="width: 10%; border-top: Black 1pt solid">&nbsp;</td>
    <TD STYLE="width: 11%; border-top: Black 1pt solid">&nbsp;</td>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="6" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; background-color: white; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">CLAVE DE COTIZACION: </font><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>SIMEC</b></font></td>
    <TD STYLE="background-color: white; text-align: center">&nbsp;</td>
    <TD STYLE="background-color: white; text-align: center">&nbsp;</td>
    <TD STYLE="background-color: white; text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>QUARTER: 1</b></font></td>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>YEAR 2014</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>GRUPO SIMEC, S.A.B. DE C.V</b></font></td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>CONSOLIDADO</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="6" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>INVESTMENTS IN ASSOCIATES AND JOINT VENTURES</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="6" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid">&nbsp;</td>
    <TD><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>(THOUSAND PESOS)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>COMPANY NAME</b></font></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>PRINCIPAL ACTIVITY</b></font></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>NUMBER OF SHARES</b></font></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>% OWNERSHIP</b></font></td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>TOTAL AMOUNT</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>ACQUISITION COST</b></font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>CURRENT VALUE</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SIMEC INTERNATIONAL</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD. DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">ARRENDADORA SIMEC</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PACIFIC STEEL</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COMPRA VENTA DE CHATARRA</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">CIA SIDERURGICA DEL PACIFICO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">ARRENDADORA DE INMUEBLES</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.89</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COORDINADORA DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PRESTACION DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">INDUSTRIA DEL ACERO Y EL ALAMBRE</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PROCESADORA MEXICALI</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COMPRA VENTA DE CHATARRA</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SERVICIOS SIMEC</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PRESTACION DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SISTEMAS DE TRANSPORTE DE BAJA CALIFORNIA</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">TRANSPORTISTA</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">OPERADORA DE METALES</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PRESTACION DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">OPERADORA DE SERVICIOS SIDERURGICOS DE TLAXCALA</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PRESTACION DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">ADMINISTRADORA DE SERV SIDERURGICOS DE TLAXCALA</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PRESTACION DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">REPUBLIC STEEL</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">50.22</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">OPERADORA DE SERV DE LA INDUSTRIA SIDERURGICA</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PRESTACION DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">CSG COMERCIAL</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COMPRA VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.95</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COORPORACION ACEROS DM</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SUB-HOLDING</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COMERCIALIZADORA ACEROS DM</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COMPRA VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PROMOTORA ACEROS SAN LUIS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COMPRA VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">UNDER SHAFT</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SUB-HOLDING</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PROCESADORA INDUSTRIAL</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PRESTACION DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">CORPORATIVOS G&amp;DL</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PRESTACION DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">ACERO TRANSPORTE SAN</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">TRANSPORTISTA</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SIMEC INTERNATIONAL 6</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SIMEC INTERNATIONAL 7</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SIMEC ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COMPRA VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SIMEC USA</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COMPRA VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PACIFIC STEEL PROJECTS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PRESTACION DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SIMEC STEEL</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">PRESTACION DE SERVICIOS</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.00</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">CIA SIDERURGICA DE GUADALAJARA</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">CORPORACION ASL</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">COMPRA VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">GV DO BRASIL</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">ORGE</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SIMEC INTERNATIONAL 8</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">&nbsp;0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">100.0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">SIMEC INTERNATIONAL 9</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">FABRICACION Y VENTA DE PROD DE ACERO</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">99.99</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
</table>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 31%"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>TOTAL INVESTMENT IN ASSOCIATES</b></font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; width: 28%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right; width: 8%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right; width: 10%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right; width: 11%"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right; width: 12%"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="17" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-left: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="17" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 6pt Tahoma, Helvetica, Sans-Serif"><b>BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Tahoma, Helvetica, Sans-Serif">CLAVE DE COTIZACION: <b>SIMEC</b></font></td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="text-align: center"><font style="font: 6pt Tahoma, Helvetica, Sans-Serif"><b>QUARTER: 1</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Tahoma, Helvetica, Sans-Serif"><b>YEAR 2014</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center"><font style="font: 6pt Tahoma, Helvetica, Sans-Serif"><b>GRUPO SIMEC, S.A.B. DE C.V</b></font></td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Tahoma, Helvetica, Sans-Serif"><b>CONSOLIDADO</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="17" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>BREAKDOWN OF CREDITS</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="17" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>(THOUSAND PESOS)</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <td rowspan="3" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>FOREIGN INSTITUTION (YES / NO)</b></font></td>
    <td rowspan="3" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CONTRACT SIGNING DATE</b></font></td>
    <td rowspan="3" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>EXPIRATION DATE</b></font></td>
    <td rowspan="3" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>INTEREST RATE</b></font></td>
    <td colspan="6" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL&nbsp;CURRENCY</b></font></td>
    <td colspan="6" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN&nbsp;CURRENCY</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CREDIT TYPE / INSTITUTION</b></font></td>
    <td>&nbsp;</td>
    <td colspan="5" style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>TIME INTERVAL</b></font></td>
    <td>&nbsp;</td>
    <td colspan="5" style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>TIME INTERVAL</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>1&nbsp;YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2&nbsp;YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3&nbsp;YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>4&nbsp;YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>5&nbsp;YEAR </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OR&nbsp;MORE</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>1&nbsp;YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2&nbsp;YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3&nbsp;YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>4&nbsp;YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>5&nbsp;YEAR </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OR&nbsp;MORE</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border: Black 1pt solid; background-color: yellow; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>BANKS</b></font></td>
    <td style="background-color: white">&nbsp;</td>
    <td style="border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>FOREIGN TRADE</b></font></td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>SECURED</b></font></td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>COMERCIAL BANKS</b></font></td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OTHER</b></font></td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>TOTAL BANKS</b></font></td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; background-color: yellow; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>STOCK MARKET</b></font></td>
    <td rowspan="3" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>FOREIGN INSTITUTION (YES / NO)</b></font></td>
    <td rowspan="3" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CONTRACT SIGNING DATE</b></font></td>
    <td rowspan="3" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>EXPIRATION DATE</b></font></td>
    <td rowspan="3" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>INTEREST RATE</b></font></td>
    <td colspan="6" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL&nbsp;CURRENCY</b></font></td>
    <td colspan="6" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN&nbsp;CURRENCY</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="5" style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>TIME INTERVAL</b></font></td>
    <td>&nbsp;</td>
    <td colspan="5" style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>TIME INTERVAL</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>LISTED STOCK EXCHANGE (MEXICO AND / OR FOREIGN)</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>1 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>4 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>5&nbsp;YEAR </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OR&nbsp;MORE</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>1 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>4 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>5&nbsp;YEAR </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OR&nbsp;MORE</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNSECURED</b></font></td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="background-color: white">
    <td style="vertical-align: bottom; border-left: Black 1pt solid"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MEDIUM TERM NOTES</b></font></td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">NO</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom; border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: bottom; border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">3,951</font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>SECURED</b></font></td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>PRIVATE PLACEMENTS</b></font></td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNSECURED</b></font></td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>SECURED</b></font></td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>TOTAL STOCK MARKET LISTED IN STOCK EXCHANGE AND PRIVATE PLACEMENT</b></font></td>
    <td style="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3,951</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <td rowspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; background-color: yellow; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OTHER CURRENT AND NON-CURRENT LIABILITIES WITH COST</b></font></td>
    <td rowspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>FOREIGN INSTITUTION (YES / NO)</b></font></td>
    <td rowspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>DATE OF AGREEMENT</b></font></td>
    <td rowspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>EXPIRATION DATE</b></font></td>
    <td style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td colspan="6" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL&nbsp;CURRENCY</b></font></td>
    <td colspan="6" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN&nbsp;CURRENCY</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>1 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>4 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>5 YEAR </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OR MORE</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>1 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>4 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>5 YEAR </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OR MORE</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: white"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MISCELLANEOUS</b></font></td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>NO</b></font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>665,067</b></font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border: Black 1pt solid; background-color: white"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>TOTAL OTHER CURRENT AND NON-CURRENT LIABILITIES WITH COST</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>665,067</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr>
    <td rowspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; background-color: yellow; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>SUPPLIERS</b></font></td>
    <td rowspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>FOREIGN INSTITUTION (YES / NO)</b></font></td>
    <td rowspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>DATE OF AGREEMENT</b></font></td>
    <td rowspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>EXPIRATION DATE</b></font></td>
    <td style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td colspan="6" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL&nbsp;CURRENCY</b></font></td>
    <td colspan="6" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN&nbsp;CURRENCY</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>1 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>4 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>5 YEAR </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OR MORE</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>1 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>4 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>5 YEAR </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OR MORE</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MISCELLANEOUS</b></font></td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">NO</font></td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">717,191</font></td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MISCELLANEOUS</b></font></td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">NO</font></td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">2,630,832</font></td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>TOTAL SUPPLIERS</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>717,191</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2,630,832</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
</table>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td rowspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OTHER CURRENT AND NON-CURRENT LIABILITIES</b></font></td>
    <td rowspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>FOREIGN INSTITUTION (YES / NO)</b></font></td>
    <td style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td colspan="6" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL&nbsp;CURRENCY</b></font></td>
    <td colspan="6" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN&nbsp;CURRENCY</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>1 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>4 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>5 YEAR </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OR MORE</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>CURRENT YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>1 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>2 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>4 YEAR</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>UNTIL </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>5 YEAR </b></font><br>
<font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>OR MORE</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 9%; border-left: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MISCELLANEOUS</b></font></td>
    <td style="width: 7%; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">NO</font></td>
    <td style="width: 6%; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="width: 6%; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="width: 6%; border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">81,687</font></td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">79,459</font></td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>MISCELLANEOUS</b></font></td>
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">NO</font></td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">0</font></td>
    <td style="background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">491,398</font></td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif">15,734</font></td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>TOTAL OTHER CURRENT AND NON-CURRENT LIABILITIES</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: red; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>81,687</b></font></td>
    <td style="border: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>79,459</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>491,398</b></font></td>
    <td style="border: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>15,734</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>GENERAL TOTAL</b></font></td>
    <td style="border: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>798,878</b></font></td>
    <td style="border: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>79,459</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>3,791,248</b></font></td>
    <td style="border: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>15,734</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 6pt Arial, Helvetica, Sans-Serif"><b>0</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="background-color: white">&nbsp;</td>
    <td style="border: Black 1pt solid; background-color: red">&nbsp;</td>
    <td colspan="9" style="background-color: white"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</font><font style="font: 6pt Arial, Helvetica, Sans-Serif">Estas columnas no aplican para las secciones correspondientes</font></td>
    <td style="background-color: white">&nbsp;</td>
    <td style="background-color: white">&nbsp;</td>
    <td style="background-color: white">&nbsp;</td>
    <td style="background-color: white">&nbsp;</td>
    <td style="background-color: white">&nbsp;</td>
    <td style="background-color: white">&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="6" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 235px; border-left: Black 1pt solid; background-color: white; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">CLAVE DE COTIZACION: <b>SIMEC</b></font></td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>GRUPO SIMEC, S.A.B. DE C.V</b></font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>QUARTER: 1</b></font></td>
    <td style="border-right: Black 1pt solid"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>YEAR 2014</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="6" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>MONETARY FOREIGN CURRENCY POSITION</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="6" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>THOUSAND PESOS</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="6" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="background-color: #FFFF99">
    <td rowspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b><i>FOREIGN CURRENCY POSITION</i></b></font></td>
    <td colspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>DOLLARS (1)</b></font></td>
    <td colspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>OTHER CURRENCIES</b></font></td>
    <td rowspan="2" style="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>THOUSAND PESOS TOTAL</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>THOUSANDS OF DOLLARS</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>THOUSAND PESOS</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>THOUSANDS OF DOLLARS</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>THOUSAND PESOS</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>MONETARY ASSETS</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">750,842</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">9,824,095</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">9,824,095</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 18.35pt"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">CURRENT</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">750,842</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">9,824,095</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">9,824,095</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 18.35pt"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">NON CURRENT</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 18.35pt">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>LIABILITIES</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">290,963</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">3,806,983</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">3,806,983</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 18.35pt"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">SHORT TERM</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">289,760</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">3,791,248</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">3,791,248</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 18.35pt">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 18.35pt"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">LONG TERM</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">1,203</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">15,735</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">15,735</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>NET BALANCE</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">459,879</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">6,017,112</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">6,017,112</font></td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="4"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif">(1) IN THE NOTES SECTION MUST SPECIFY THE CURRENCY AND EXCHANGE RATE</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-top: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="7" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; background-color: white">&nbsp;</td>
    <td style="background-color: white">&nbsp;</td>
    <td style="background-color: white">&nbsp;</td>
    <td style="background-color: white">&nbsp;</td>
    <td style="background-color: white"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>QUARTER: 1</b></font></td>
    <td style="text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>YEAR 2014</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="7" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>DEBT INSTRUMENTS</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="7" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td colspan="7" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>FINANCIAL LIMITATIONS IN CONTRACT, ISSUED DEED AND / OR TITLE</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="border-left: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">MEDIUM TERM NOTES</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="5" style="border-left: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">A) Current assets to current liabilities must be 1.0 times or more</font></td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="5" style="border-left: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">B) Total liabilities to total assets do not be more than 0.60</font></td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="7" style="border-left: Black 1pt solid; border-right: black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">C) Operating income plus items added to income which do not require using cash must be 2.0 times or more</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="4" style="border-left: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">This notes was offered in the international market</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #FFFF99">
    <td colspan="7" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>ACTUAL SITUATION OF FINANCIAL LIMITED</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="border-left: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">MEDIUM TERM NOTES</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="4" style="border-left: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">A) Accomplished the actual situation is 3.28 times</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="4" style="border-left: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">B)Accomplished the actual situation is 0.22</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="4" style="border-left: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">C)Accomplished the actual situation is 48.67</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="7" style="border-left: Black 1pt solid; border-right: black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">As of March 31, 2014, the remaining balance of the MTNs not exchanged amounts to Ps. 4.0 Millions ($302.000 </font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif">dollars)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td colspan="6" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">CLAVE DE COTIZACION: </font><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>SIMEC</b></font></td>
    <td style="width: 111px; text-align: center">&nbsp;</td>
    <td style="width: 111px; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="width: 145px; text-align: center">&nbsp;</td>
    <td style="width: 145px; border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>GRUPO SIMEC, S.A.B. DE C.V</b></font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>QUARTER: 1</b></font></td>
    <td style="border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>YEAR 2014</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="6" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>DISTRIBUTION OF REVENUE BY PRODUCT</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="6" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>TOTAL INCOME</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="6" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>(THOUSAND PESOS)</b></font></td></tr>
<tr style="background-color: #FFFF99">
    <td rowspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>MAIN PRODUCTS OR PRODUCT LINE</b></font></td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>SALES</b></font></td>
    <td rowspan="2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>MARKET SHARE %</b></font></td>
    <td colspan="2" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>MAIN</b></font></td></tr>
<tr style="background-color: #FFFF99">
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>VOLUME</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>AMOUNT</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>TRADEMARKS</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>CUSTOMERS</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b><i>DOMESTIC SALES</i></b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b><i>COMMERCIAL PROFILES</i></b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>209</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>1,999,998</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b><i>SPECIAL PROFILES</i></b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>121</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>1,387,456</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b><i>OTHERS</i></b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>0 </b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19,467</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b><i>TOTAL</i></b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>330</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>3,406,921</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>FOREIGN SALES</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b><i>COMMERCIAL PROFILES</i></b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>28</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>301,082</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b><i>SPECIAL PROFILES</i></b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>3</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>&nbsp;&nbsp;&nbsp;31,631</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b><i>OTHERS</i></b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>&nbsp;0</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b><i>TOTAL</i></b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>31</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>332,713</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>FOREIGN&nbsp; SUBSIDIARIES</b></font></td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
</table>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="width: 15%; border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b><i>SPECIAL PROFILES</i></b></font></td>
    <td style="width: 16%; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>169</b></font></td>
    <td style="width: 16%; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>2,842,681</b></font></td>
    <td style="width: 8%; border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="width: 24%; border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="width: 21%; border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>T&nbsp; O&nbsp; T&nbsp; A&nbsp; L</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>530</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>6,582,315</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="10" style="border-top: Black 1pt solid; border-right: black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>BOLSA MEXICANA DE VALORES, S.A.B. DE C.V.&nbsp;</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="3" style="border-left: Black 1pt solid; background-color: white"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">CLAVE DE COTIZACION: </font><font style="font: 10pt Tahoma, Helvetica, Sans-Serif"><b>SIMEC</b></font></td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="background-color: white; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="3" style="border-left: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>GRUPO SIMEC, S.A.B. DE C.V</b></font></td>
    <td>&nbsp;</td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>QUARTER: 1</b></font></td>
    <td><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>YEAR 2014</b></font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-right: Black 1pt solid"><font style="font: 8pt Arial, Helvetica, Sans-Serif"><b>CONSOLIDADO</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="10" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>ANALYSIS OF PAID CAPITAL STOCK</b></font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="border-left: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="width: 72px; text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="width: 100px; border-right: Black 1pt solid; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td colspan="10" style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>CHARACTERISTICS OF THE SHARES</b></font></td></tr>
<tr style="background-color: #FFFF99">
    <td rowspan="2" style="border-left: Black 1pt solid; border-bottom: black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>SERIES</b></font></td>
    <td rowspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>NOMINAL VALUE</b></font><br>
<font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>($)</b></font></td>
    <td colspan="2" rowspan="2" style="border-left: Black 1pt solid; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>VALID COUPON</b></font></td>
    <td colspan="4" style="border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>NUMBER OF SHARES</b></font></td>
    <td colspan="2" style="border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>CAPITAL SOCIAL</b></font></td></tr>
<tr style="background-color: #FFFF99">
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>FIXED PORTION</b></font></td>
    <td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>VARIABLE PORTION</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>MEXICAN</b></font></td>
    <td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>FREE SUBSCRIPTION</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>FIXED</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>VARIABLE</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td colspan="2" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">B</font></td>
    <td style="text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td colspan="2" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">90,850,050</font></td>
    <td style="text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">406,859,164</font></td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">0</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">497,709,214</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">441,786</font></td>
    <td style="border-right: Black 1pt solid; text-align: right"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">1,978,444</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td colspan="2" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td colspan="2" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td colspan="2" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td colspan="2" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td colspan="2" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td colspan="2" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td colspan="2" style="border-left: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td colspan="2" style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</td>
    <td style="border-right: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>TOTAL</b></font></td>
    <td style="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <td colspan="2" style="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>90,850,050</b></font></td>
    <td style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>406,859,164</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>0</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>497,709,214</b></font></td>
    <td style="border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>441,786</b></font></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>1,978,444</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="8"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif">TOTAL NUMBER OF SHARES REPRESENTING THE CAPITAL STOCK OF THE DATE OF SENDING THE INFORMATION:</font></td>
    <td>&nbsp;</td>
    <td style="border: Black 1pt solid; text-align: center"><font style="font: 8pt Tahoma, Helvetica, Sans-Serif"><b>497,709,214</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>
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