<SEC-DOCUMENT>0001104659-18-066860.txt : 20181108
<SEC-HEADER>0001104659-18-066860.hdr.sgml : 20181108
<ACCEPTANCE-DATETIME>20181108092851
ACCESSION NUMBER:		0001104659-18-066860
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		17
CONFORMED PERIOD OF REPORT:	20181108
FILED AS OF DATE:		20181108
DATE AS OF CHANGE:		20181108

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELECOM ARGENTINA SA
		CENTRAL INDEX KEY:			0000932470
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13464
		FILM NUMBER:		181168453

	BUSINESS ADDRESS:	
		STREET 1:		ALICIA MOREAU DE JUSTO 50
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1107AAB
		BUSINESS PHONE:		54-11-4968-4000

	MAIL ADDRESS:	
		STREET 1:		ALICIA MOREAU DE JUSTO 50
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1107AAB

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TELECOM ARGENTINA STET FRANCE TELECOM SA
		DATE OF NAME CHANGE:	19950809
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a18-39836_16k.htm
<DESCRIPTION>6-K
<TEXT>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">UNITED STATES</font></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;6-K</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">REPORT OF FOREIGN PRIVATE ISSUER</font></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">PURSUANT TO RULE 13A-16 OR 15D-16</font></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">For the month of November&nbsp;2018</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Commission File Number: 001-13464</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Arial" style="font-size:16.0pt;font-weight:bold;">Telecom </font></b><b><font size="5" face="Arial" style="font-size:16.0pt;font-weight:bold;">Argentina S.A.</font></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">(Translation of registrant&#146;s name into English)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Alicia Moreau de Justo, No.&nbsp;50, 1107</font></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Buenos Aires, Argentina</font></b></p>
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Arial" style="font-size:12.0pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Form&nbsp;20-F</font></p>    </td>
<td width="9%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.28%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">X</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.54%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Form&nbsp;40-F</font></p>    </td>
<td width="9%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Arial" style="font-size:12.0pt;">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(1):</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.48%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Yes</font></p>    </td>
<td width="9%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.28%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">No</font></p>    </td>
<td width="9%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">X</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:4.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Arial" style="font-size:12.0pt;">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(7):</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.48%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Yes</font></p>    </td>
<td width="9%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.28%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.54%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">No</font></p>    </td>
<td width="9%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">X</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Telecom </font></b><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Argentina S.A.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">TABLE OF CONTENTS</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">Exhibit</font></u></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="93%" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a href="a18-39836_1ex1.htm#Exhibit1_050333" title="Click to goto "><font size="2" style="font-size:11.0pt;">Telecom Argentina S.A. announces consolidated nine month period   (&#145;9M18&#146;) and third quarter results for fiscal year 2018 (&#145;3Q18&#146;).</font></a></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Telecom   </font></b><b>Argentina S.A.</b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.08%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November&nbsp;8, 2018</font></p>    </td>
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<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Gabriel P.   Blasi</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="1" style="font-size:5.0pt;">&nbsp;</font>Gabriel P.   Blasi</p>    </td>   </tr>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="1" style="font-size:5.0pt;">&nbsp;</font>Responsible for Market Relations</p>    </td>   </tr>  </table>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">Exhibit 1<a name="Exhibit1_050333"></a></font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Arial"><img width="87" height="41" src="g398361ka01i001.gif"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">FOR IMMEDIATE RELEASE</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Market Cap P$285.4 billion</font></p>
<p align="right" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:right;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">November&nbsp;7</font><font size="1" color="gray" face="Arial" style="color:gray;font-size:5.0pt;position:relative;top:-5.0pt;">th</font><font color="gray" face="Arial" style="color:gray;">, 2018</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Contacts:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Solange Barthe Dennin</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">(54 11) 4968-3752</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="5" color="#4576d6" face="Arial" style="color:#4576D6;font-size:17.0pt;font-weight:bold;">Telecom Argentina S.A.</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" color="#4576d6" face="Arial" style="color:#4576D6;font-size:17.0pt;font-weight:bold;">announces consolidated nine month period (&#145;9M18&#146;) and third quarter results for fiscal year 2018 (&#145;3Q18&#146;)*</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="background:white;margin:0in 0in .0001pt;text-align:justify;"><b><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Note:</font></u></b><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;"> The merger between Telecom and Cablevisi&#243;n was considered an inverse acquisition under IFRS 3 (Business Combinations), with Cablevisi&#243;n being the surviving entity for accounting purposes. Thus, for the purposes of preparing the consolidated financial statements of Telecom Argentina as of September&nbsp;30, 2018: i) the comparative figures as of December&nbsp;31, 2017 and September&nbsp;30, 2017 correspond to those that arise from the consolidated financial statements of Cablevisi&#243;n at their respective dates; and ii) the corresponding information for the nine-month period ended September&nbsp;30, 2018, incorporates on the basis of figures corresponding to Cablevisi&#243;n, the effect of the application of Telecom Argentina&#146;s method of acquisition at its fair value in accordance with the IFRS 3 guidelines (see Financial Table No.&nbsp;3) and the operations of Telecom Argentina as of January&nbsp;1, 2018. On the other hand, in order to ease the understanding and analysis of the earnings evolution by its users, additional tables of the income statements are included, exposing on pro forma basis the comparative figures for 9M17 as if the merger between Telecom and Cablevisi&#243;n had been effective during that period. The variations of results vs. 9M17 identified in this press release emanate from the comparison with the aforementioned &#147;pro forma&#148; information (see Financial Tables No 6, No 7, No 10, No 11, No 14 and No 15).</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:14.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Consolidated Revenues amounted to P$99,494 million in 9M18 (+29.3% vs. 9M17); of which Service Revenues reached P$91,910 million (+29.3% vs. 9M17). Considering the breakdown of Service Revenues, Mobile Services amounted P$34,511 million (+18.3% vs. 9M17); Internet Services totaled P$22,448 million (+32.6% vs. 9M17), while Cable TV Services and Fixed Telephony and Data Services amounted to P$21,417 million (+42.6% vs. 9M17) and P$13,086 million (+36.4% vs. 9M17), respectively.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:14.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Mobile subscribers in Argentina: 18.9 million in 9M18, while Cable TV subscribers and Broadband accesses totaled 3.5 million and 4.1 million, respectively.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:14.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Mobile Internet revenues of Personal in Argentina increased 41.2% vs. 9M17; reaching 59.1% participation in Service Revenues.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:14.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Mobile ARPU of Personal in Argentina in 9M18 increased to P$170.4 per month in 9M18 (+22.6% vs. 9M17).</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:14.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Broadband ARPU reached P$604.8 per month in 9M18 (+34.9% vs. 9M17). Monthly churn was 1.9% in 9M18.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:14.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Cable TV ARPU increased to P$674.9 per month in 9M18 (+26.9% vs. 9M17).</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:14.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Consolidated Operating costs -including D&amp;A and impairment of PP&amp;E- totaled P$79,550 million in 9M18 (+26.1% vs. 9M17).</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:14.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Operating Income before Depreciation and Amortization reached P$35,196 million in 9M18 (+36.4% vs. 9M17), 35.4% of Consolidated Revenues.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:14.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Net Loss amounted to P$18,540 million in 9M18. Net Loss attributable to the Controlling Company amounted to P$18,589 million during the same period. The mentioned Net Loss mainly reflects the impact of FX losses over financial results, partially offset by the growth in Operating Income before D&amp;A.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Capex reached P$24,046 million in 9M18, equivalent to 24.2% of Consolidated Revenues.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:3.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-align:justify;text-indent:-.25in;"><font size="3" color="gray" face="Wingdings" style="color:gray;font-size:12.0pt;">&#167;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size="3" color="gray" face="Arial" style="color:gray;font-size:12.0pt;font-weight:bold;">Net Financial Debt Position: P$67,901 million in 9M18.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">*Unaudited non financial data</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in .2in .0001pt 0in;text-align:right;"><b><i><font size="2" color="white" face="Arial" style="color:white;font-size:9.5pt;font-style:italic;font-weight:bold;">(in&nbsp;million&nbsp;P$,&nbsp;except&nbsp;where&nbsp;noted)**</font></i></b></p>    </td>
<td width="2%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="center" style="margin:0in .1in .0001pt 0in;text-align:center;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:9.5pt;font-weight:bold;">2018</font></b></p>    </td>
<td width="2%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="center" style="margin:0in 0in .0001pt .1in;text-align:center;"><b><font size="2" color="white" face="Arial" style="color:white;font-size:9.5pt;font-weight:bold;">2017</font></b></p>    </td>
<td width="2%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:9.0pt;font-weight:bold;">&#916;</font></b><b><font size="2" color="white" face="Arial" style="color:white;font-size:9.5pt;font-weight:bold;">&nbsp;$</font></b></p>    </td>
<td width="2%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:9.0pt;font-weight:bold;">&#916;</font></b><b><font size="2" color="white" face="Arial" style="color:white;font-size:9.5pt;font-weight:bold;">&nbsp;%</font></b></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 2.9pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Consolidated   Revenues</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">99,494</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">76,920</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">22,574</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">29.3%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Operating Income before D&amp;A</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">35,196</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">25,807</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">9,389</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">36.4%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Operating Income</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">19,944</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">13,854</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">6,090</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">44.0%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Net (Loss) Income attributable to Controlling   Company</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(18,589)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">7,571</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(26,160)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Shareholders&#146; equity attributable to Controlling   Company</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">108,000</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">n.a.</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">-</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Net Financial Position - (Debt) / Cash</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(67,901)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">n.a.</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">-</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">CAPEX *</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">24,046</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">16,082</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">7,964</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">49.5%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Fixed lines in service (in thousand lines)</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">3,617</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">3,838</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(221)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-5.8%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Mobile customers (in thousand)</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">21,232</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">22,362</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(1,130)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-5.1%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt .35in;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">Personal (Argentina)</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">18,484</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">19,030</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(546)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-2.9%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt .35in;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">Nextel (Argentina)</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">381</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">855</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(474)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-55.4%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt .35in;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">N&#250;cleo (Paraguay) -including Wimax   customers-</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">2,368</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">2,477</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(109)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-4.4%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Broadband accesses (in thousand)</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">4,106</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">4,034</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">72</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">1.8%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Cable TV Suscribers (in thousand)</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">3,488</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">3,508</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(20)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-0.6%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 30.25pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Argentina</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">3,345</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">3,364</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(19)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-0.6%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 30.25pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Uruguay</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">143</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">144</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(1)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">-0.7%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Average Billing per user (ARBU) Fixed Telephony /   voice (in P$)</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">236.6</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">145.6</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">91.0</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">62.5%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Average Revenue per user (ARPU) Mobile Services -   Personal (in P$)</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">170.4</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">139.0</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">31.5</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">22.6%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Average Revenue per user (ARPU) Broadband (in P$) ***</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">604.8</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">448.3</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">156.6</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">34.9%</font></p>    </td>   </tr>
<tr>
<td width="58%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:58.22%;">
<p style="margin:0in 0in .0001pt 13.0pt;text-indent:-10.1pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Average Revenue per user (ARPU) Cable TV (in P$)</font></p>    </td>
<td width="2%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">674.9</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">531.7</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">143.2</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:8.36%;">
<p align="right" style="margin:0in .05in .0001pt 0in;text-align:right;"><font size="1" color="#7e7e7e" face="Arial" style="color:#7E7E7E;font-size:9.0pt;">26.9%</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;font-style:italic;">*(Unaudited information - figures as of 9M17 calculated as the sum of the parts of Telecom Argentina&#146;s and Cablevisi&#243;n&#146;s CAPEX)</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;font-style:italic;">**(Figures may not sum up due to rounding)</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;font-style:italic;">***(Calculated considering the average subscriber bases according to the billing criteria of each product)</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;line-height:14.0pt;margin:0in 0in .0001pt;text-align:justify;"><i><font size="2" color="#3366ff" face="Arial" style="color:#3366FF;font-size:10.0pt;font-style:italic;">Buenos Aires, November&nbsp;7, 2018</font></i><font color="gray" face="Arial" style="color:gray;"> - Telecom Argentina S.A. (&#145;Telecom Argentina&#146;) - (NYSE: TEO; BASE: TECO2), one of Argentina&#146;s leading telecommunications companies, announced today a Net Loss of P$18,540 million for the nine-month period ended September&nbsp;30, 2018, a decrease of P$26,182 million when compared to 9M17. Net loss attributable to the Controlling Company amounted to P$18.589 million (-P$26,160 million vs. 9M17).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="92%" style="border-collapse:collapse;margin-left:.3in;">
<tr>
<td width="56%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:56.8%;">
<p style="margin:0in 0in .0001pt 2.9pt;"><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:9.0pt;font-weight:bold;">9M18</font></b></p>    </td>
<td width="1%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:9.0pt;font-weight:bold;">9M17</font></b></p>    </td>
<td width="1%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="right" style="margin:0in 5.75pt .0001pt 0in;text-align:right;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:9.0pt;font-weight:bold;">&#916;</font></b><b><font size="1" color="white" face="Arial" style="color:white;font-size:9.0pt;font-weight:bold;"> $</font></b></p>    </td>
<td width="1%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" bgcolor="#052158" style="background:#052158;padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="right" style="margin:0in 5.05pt .0001pt 0in;text-align:right;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:9.0pt;font-weight:bold;">&#916;</font></b><b><font size="1" color="white" face="Arial" style="color:white;font-size:9.0pt;font-weight:bold;"> %</font></b></p>    </td>   </tr>
<tr>
<td width="56%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:56.8%;">
<p style="margin:0in 0in .0001pt 2.9pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Consolidated Revenues (MMP$)</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">99,494</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">76,920</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">22,574</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">29.3%</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:56.8%;">
<p style="margin:0in 0in .0001pt 2.9pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Net (Loss) Income attributable to Controlling Company (MMP$)</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(18,589)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">7,571</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(26,160)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:56.8%;">
<p style="margin:0in 0in .0001pt 2.9pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(Losses) Earnings attributable to Controlling Company per Share (P$)</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(8.6)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">3.5</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(12.1)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:56.8%;">
<p style="margin:0in 0in .0001pt 2.9pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(Losses) Earnings attributable to Controlling Company per ADR (P$)</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(43.2)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">17.6</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">(60.7)</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:56.8%;">
<p style="margin:0in 0in .0001pt 2.9pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Operating Income before D&amp;A *</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">35.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">33.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:56.8%;">
<p style="margin:0in 0in .0001pt 2.9pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Operating Income *</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">20.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">18.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:56.8%;">
<p style="margin:0in 0in .0001pt 2.9pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Net (Loss) Income*</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">-18.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">9.9%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:56.8%;">
<p style="margin:0in 0in .0001pt 2.9pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">*As a percentage of   Consolidated Revenues</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:1.8%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="9%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:9.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="9" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt 12.95pt;text-indent:-10.0pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">Note: The average of ordinary shares outstanding considered amounted to   2,153,688,011 as of 9M18 and 9M17</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="line-height:14.0pt;margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">During 9M18, Consolidated Revenues increased by 29.3% to P$99,494 million (+P$22,574 million vs. 9M17), mainly driven by Cable TV Services,&nbsp;Internet Services and Mobile Services. Moreover, Operating Income reached P$19,944 million (+P$6,090 million or +44.0% vs. 9M17).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="70%" valign="top" style="padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#3366ff" face="Arial" style="color:#3366FF;font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Consolidated Operating Revenues</font></u></p>
<p style="margin:0in 0in .0001pt;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">&nbsp;</font></i></p>
<p style="margin:0in 0in .0001pt;"><i><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:16.0pt;font-style:italic;">Mobile Services</font></i></p>
<p style="margin:0in 0in .0001pt;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">&nbsp;</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As of September&nbsp;30, 2018, mobile   clients amounted to 21.2 million.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:4.0pt;">&nbsp;</font></p>
<p style="line-height:14.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="191" height="211" src="g398361ka01i002.jpg"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">2</font><a name="PB_2_135249_7056"></a></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">In 9M18, mobile services revenues   represented P$34,511 million (+18.3% vs. 9M17). The commercial strategy was   focused on promoting the consumption of mobile internet services through an   update of the integrated offer of plans suitable for all market segments.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">Mobile Services in Argentina</font></i></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As of September&nbsp;30, 2018, Personal   reached 18.5 million subscribers in Argentina, where postpaid clients   represented 38% of the subscriber base.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">In 9M18, service revenues of Personal in   Argentina (excluding equipment sales) amounted to P$29,480 million (+16.7%   vs. 9M17), with 59.1% corresponding to mobile internet revenues (vs. 48.9% as   in 9M17), as mobile internet revenues amounted to P$17,437 million (+41.2%   vs. 9M17). In addition, equipment sales increased by 37.7% vs. 9M17, reaching   P$7,230 million, equivalent to 19.7% of total revenues of Personal in   Argentina.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">The average monthly revenue per   user (&#145;ARPU&#146;) of Personal in Argentina amounted to P$170.4 during 9M18   (+22.6% vs. 9M17).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As of September&nbsp;30, 2018, Nextel   IDEN subscriber base reached approximately 0.4 million subscribers, where   postpaid clients represented 80% of the subscriber base and prepaid clients   represented the remaining 20%.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">Commercial Initiatives</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">During the third quarter of 2018,   Personal introduced its WiFi Calling service for mobile customers, which   allows the client to make and receive calls using any Wi-Fi network in the   world as if it was a local voice call.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Regarding infrastructure, Personal continued to enhance the   mobile internet experience of its customers through the deployment of its 4G   and 4G + network throughout Argentina, which currently covers more than 1,500   locations from La Quiaca to Ushuaia, and reaching more than 11.7 million   customers with 4G devices throughout the country. Customers experience an   average browsing speed that exceeds 20 Mbps, standing out as the fastest   network in the country.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="4" color="#3366ff" face="Arial" style="color:#3366FF;font-size:14.0pt;font-style:italic;">Personal in Paraguay (&#145;N&#250;cleo&#146;)</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As of September&nbsp;30, 2018, N&#250;cleo&#146;s   subscriber base reached around 2.4 million clients. Prepaid and postpaid   customers represented 83% and 17%, respectively.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">N&#250;cleo generated service revenues   equivalent to P$3,678 million during 9M18 (+79.7% vs. 9M17). Internet   revenues amounted to P$1,632 million (+75.3% vs. 9M17) representing 44.4% of   9M18 service revenues (vs. 45.5% in 9M17).</font></p>    </td>   </tr>  </table>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">3</font><a name="PB_3_135814_5335"></a></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:16.0pt;font-style:italic;">Cable TV Services</font></i></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Cable TV service revenues reached   P$21,417 million in 9M18 (+42.6% vs. 9M17). This increase was mainly   explained by an upselling of value added services combined with price   adjustments. Cable TV subscribers totaled almost 3.5 million, while the Cable   TV ARPU reached P$674.9 during 9M18, rising +26.9% vs. 9M17. Moreover,   average monthly churn during 9M18 was 1.4%.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">In the third quarter of 2018, Cablevisi&#243;n continued to add   featured titles to its on-demand content grid, being the most relevant the   co-production <i>Rizhoma Hotel</i>, <i>Naturaleza Salvaje </i>and <i>Pasado de Copas</i>.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">In addition, Telecom Argentina and Sony Pictures formalized an   agreement to acquire content directly in Argentina, in order to offer more   entertainment options to the customers, thus continuing to complete the Flow   offer according to the their preferences.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Moreover, in August&nbsp;Cablevisi&#243;n incorporated satellite   technology to its offer in Uruguay in the cities of Montevideo, Canelones and   San Jos&#233;, following a process of technological evolution that will allow   adding more high definition channels to its programming and, in the near   future, new value added services.</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:16.0pt;font-style:italic;">Fixed Telephony and Data Services</font></i></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">During 9M18, revenues generated by fixed   telephony and data reached P$13,086 million in 9M18, +36.4% vs. 9M17. The   increase in fixed telephony services was mainly explained by monthly fee   price increases that came into effect for both corporate and residential   fixed line customers, and additionally due to the bundled offer of packs that   include voice and internet services <i>(&#145;Arnet + Voz&#146;), </i>that   aim to achieve higher levels of customer loyalty and churn reduction.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As a result, the average monthly revenue   billed per user (&#145;ARBU&#146;) of fixed telephony reached P$236.6 in 9M18, +62.5%   vs. 9M17.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Meanwhile, Data revenues increase   (services mainly offered to Corporate customers, SMEs, Government and to   other operators) was mainly driven by FX rate variations that affected those   contracts that were adjusted by the $/U$S exchange rate and due to the   increase in the number of clients, generated in a context that evidences the   growing position of Telecom as an integrated ICT provider.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">In this sense, FiberCorp, Personal and Telecom presented their   unified portfolio of products and services for companies. The portfolio for   SMEs includes solutions for Connectivity, Communications,&nbsp;IoT, Cloud and   Video&nbsp;&amp; Media, while for Large Clients Datacenter and Security   services are added to the aforementioned offer.</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><i><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:16.0pt;font-style:italic;">Internet Services</font></i></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Internet services revenues totaled   P$22,448 million during 9M18, +32.6% vs. 9M17. As of September&nbsp;30, 2018,   total broadband accesses increased to more than 4.1 million</font></p>    </td>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">(+1.8% vs. 9M17). Additionally, broadband   ARPU amounted to P$604.8 per month in 9M18 (+34.9% vs. 9M17). Moreover, the   average monthly <i>churn</i> rate for the period was   1.9%. On the other hand, clients with service of 20Mb or higher currently   represent 34% of the total customer base as of 9M18.</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Consolidated Operating Costs</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Consolidated Operating Costs totaled   P$79,550 million in 9M18, an increase of P$16,484 million, or +26.1% vs. 9M17   (including D&amp;A and impairment of PP&amp;E). Continuing with the trend   observed during the lasts quarters, this overall increase is below inflation   levels and moreover Revenue growth, which allowed a significant increase in   the Company&#146;s Operating Income before D&amp;A and to improve its margin. This   was a result of a higher level of efficiency achieved in the cost structure.   Higher costs are mainly associated to the effect of higher revenues, a highly   competitive environment in the mobile, cable TV and broadband businesses, the   impact of higher direct and indirect labor costs generated by the operations   in Argentina, the increase in costs of services contracted with suppliers,   higher programming and content costs due the incorporation of broadcasting   signals of football matches.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">The cost breakdown is as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Employee benefit expenses and severance   payments totaled P$17,596 million (+22.8% vs. 9M17), mainly impacted by   increases in salaries to unionized and non-unionized employees together with   the associated social security contributions. Finally, total employees at the   end of 9M18 amounted to 25,775 (vs. 26,975 in 9M17).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Interconnection and transmission costs   (including TLRD, Roaming, international settlement charges and lease of   circuits) amounted to P$3,203 million, +16.8% vs. 9M17. This increase is   mostly explained by higher TLRD costs.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Fees for services, maintenance,   materials and supplies amounted to P$9,245 million (+12.3% vs. 9M17), mainly   due to increases in fees for services, mostly related to call centers and   higher professional generated by a higher level of activity fees driven   mainly by new Company projects and by services linked to operational   management in general. There were also higher technical maintenance costs and   higher hardware and software maintenance costs due to price increases, the   U$S FX fluctuations and the higher level of activity.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Taxes and fees with regulatory   authorities reached P$8,009 million (+30.2% vs. 9M17). The increase was   mainly due to the growth in revenues.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Commissions and advertising   (Commissions paid to agents, prepaid card distribution commissions and   others) totaled P$6,333 million (+28.8% vs. 9M17). The increase is mostly due   to higher fees paid in favor of commercial channels and collection fees.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:2.25pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Cost of handsets sold totaled P$5,370   million (+9.1% vs. 9M17); this increase was mainly associated with an   increase in the average unit cost, partially offset by a decrease in the   quantities sold.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Programming and content costs totaled   P$7,144 million (+56.5% vs. 9M17), largely due</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.94%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial"><img width="215" height="214" src="g398361ka03i005.gif"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">5</font><a name="PB_5_000405_5335"></a></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.94%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Arial"><img width="87" height="41" src="g398361ka03i001.gif"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">to the incorporation of the cost of   signals to broadcast live football matches of the first division of the   Argentine Football Association, price increases and fluctuation of the P$/U$S   exchange rate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Depreciation, amortization and   impairment of PP&amp;E amounted P$15,252 million (+27.6% vs. 9M17). Depreciations   of PP&amp;E totaled P$12,184 million, amortizations of intangible assets   reached P$2,799 million, while the losses of PP&amp;E reached P$191 million   and the impairment of PP&amp;E P$78 million. The higher charge is mostly due   to a greater amortization and depreciation of PP&amp;E and intangibles,   corresponding to higher values allocated to the aforementioned assets   resulting from the acquisition method under IFRS 3.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">- Other Costs totaled P$7,398 million   (+40.7% vs. 9M17), of which bad debt expenses reached P$1,990 million (+52.6%   vs. 9M17), and whose increase is mainly due to the impact generated by the   application as of the FY2018 of IFRS 9, as well as other operating costs that   totaled P$5,408 million (36.7% vs. 9M17).</font></p>    </td>
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<p style="margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Net Financial Results</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">The Net Financial Results (including   Financial Costs on Debt and Other Financial Results, net) showed a loss of   P$47,218 million, compared with a loss of P$2,281 million in 9M17. The result   was mainly due to FX losses of P$45,864 million (compared with a loss of P$1,387   million in 9M17), mostly due to the strong depreciation of the peso during   the 9M18, followed by net interest losses of P$1,908 million (representing a   greater loss of P$1,858 million vs. 9M17), which are partially offset by   gains on investments of P$1,491million (that generated greater earnings of   P$1,517 million vs. 9M17).</font></p>
<p style="line-height:14.0pt;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Consolidated Net Financial Debt</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:2.25pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As of September&nbsp;30, 2018, net   financial debt position (cash, cash equivalents plus financial investments   and financial NDF minus loans) totaled P$67,901 million, increasing when   compared to the consolidated net financial debt position as of   December&nbsp;31, 2017 (calculated as the sum of consolidated net financial   debt positions of Telecom Argentina and Cablevisi&#243;n, which was P$9,580   million).</font></p>
<p style="line-height:14.0pt;margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:5.5pt;font-weight:bold;">in&nbsp;million&nbsp;of&nbsp;P$</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#001F5F" style="background:#001F5F;padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" bgcolor="#001F5F" style="background:#001F5F;padding:0in 0in 0in 0in;width:5.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:5.5pt;font-weight:bold;">9M17</font></b></p>    </td>
<td width="0%" valign="bottom" bgcolor="#001F5F" style="background:#001F5F;padding:0in 0in 0in 0in;width:.76%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" bgcolor="#001F5F" style="background:#001F5F;padding:0in 0in 0in 0in;width:5.8%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:5.5pt;font-weight:bold;">9M18</font></b></p>    </td>
<td width="0%" valign="bottom" bgcolor="#001F5F" style="background:#001F5F;padding:0in 0in 0in 0in;width:.5%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="white" face="Arial" style="color:white;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#001F5F" style="background:#001F5F;padding:0in 0in 0in 0in;width:4.78%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="white" face="Arial" style="color:white;font-size:5.5pt;font-weight:bold;">$&nbsp;Var</font></b></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.66%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.5pt;">FX results</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.5pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">-$1,387</font></p>    </td>
<td width="0%" valign="top" style="padding:0in 0in 0in 0in;width:.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.8%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">-$45,864</font></p>    </td>
<td width="0%" valign="top" style="padding:0in 0in 0in 0in;width:.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.78%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">-$44,477</font></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.66%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.5pt;">Net Interests</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.5pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">-$&nbsp;50</font></p>    </td>
<td width="0%" valign="top" style="padding:0in 0in 0in 0in;width:.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.8%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">-$&nbsp;1,908</font></p>    </td>
<td width="0%" valign="top" style="padding:0in 0in 0in 0in;width:.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.78%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">-$&nbsp;1,858</font></p>    </td>   </tr>
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<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.66%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.5pt;">Gains&nbsp;on&nbsp;investments</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.5pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">-$&nbsp;26</font></p>    </td>
<td width="0%" valign="top" style="padding:0in 0in 0in 0in;width:.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.8%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">$&nbsp;1,491</font></p>    </td>
<td width="0%" valign="top" style="padding:0in 0in 0in 0in;width:.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.78%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">$&nbsp;1,517</font></p>    </td>   </tr>
<tr>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:10.66%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.5pt;">Others</font></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:5.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">-$&nbsp;818</font></p>    </td>
<td width="0%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:5.8%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">-$&nbsp;937</font></p>    </td>
<td width="0%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 0in 0in;width:4.78%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:5.5pt;">-$&nbsp;119</font></p>    </td>   </tr>
<tr>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.66%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:5.5pt;font-weight:bold;">Total</font></b></p>    </td>
<td width="1%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:5.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:5.5pt;font-weight:bold;">-$&nbsp;2,281</font></b></p>    </td>
<td width="0%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:5.8%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:5.5pt;font-weight:bold;">-$&nbsp;47,218</font></b></p>    </td>
<td width="0%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:.5%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:4.78%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" face="Arial" style="font-size:5.5pt;font-weight:bold;">-$&nbsp;44,937</font></b></p>    </td>   </tr>
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<td width="31%" colspan="8" valign="bottom" style="padding:0in 0in 0in 0in;width:31.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt .15in;text-align:center;"><font size="1" color="#4576d5" face="Arial" style="color:#4576D5;font-size:6.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;">Capital Expenditures</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">During 9M18, the Company invested   P$24,046 million, increasing approximately 49.5% from the sum of the parts of   Telecom Argentina&#146;s and Cablevisi&#243;n&#146;s CAPEX as of 9M17, focusing on projects   that maximize the network capacity and on the development of products and   services that contribute to address the customer&#146;s needs that today demand   for connectivity and data availability. Moreover, transmision and transport   networks has been extended to unify the differents access technologies,   reconverting the copper fixed networks into fiber or coaxial-fiber&nbsp; hybrid networks, in order to face the the   increaseing services demand from mobile and fixed clients.&nbsp; Likewise, significant investments have been   made in the charging, billing and relationship systems with customers. The   Company aims to improve the capacity and coverage of its networks, which is   key factor for the transformation towards convergent services with   international quality standards, but also to leverage the content business,   with Flow as</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="4" face="Arial" style="font-size:1.0pt;">&nbsp;&nbsp;</font><img width="192" height="185" src="g398361ka03i006.jpg"></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">6</font><a name="PB_6_000138_1670"></a></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="67%" valign="top" style="padding:0in 0in 0in 0in;width:67.06%;">
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.94%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Arial"><img width="87" height="41" src="g398361ka03i001.gif"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">an   integral content platform and entertainment center, whose competitive   advantages and differential features place it above other platforms. In   relative terms, CAPEX reached 24.2% of consolidated revenues.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">As part of its infrastructure deployment strategy, during the   last months Telecom has made several agreements in the interior of the   country and in the Buenos Aires metropolitan area, in order to expand its   access network and improve the speed and capacity of mobile connections, thus   boosting the navigation experience for the clients. Among the most relevant   agreements are those reached with the city of Santa Fe (Santa Fe province),   the province of Jujuy, and the municipalities of Ezeiza and Lomas de Zamora   (Buenos Aires metropolitan area).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;font-weight:bold;">Relevant Matters</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Merger by absorption of Cablevisi&#243;n   S.A. (Absorbed Company) into Telecom Argentina S.A. (Surviving Company).   Registration in the Inspecci&#243;n General de Justicia.</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">On September&nbsp;4, 2018, Telecom   Argentina was informed that both the Merger between Telecom Argentina as   Surviving Company and Cablevisi&#243;n S.A. as Absorbed Company, and the   dissolution without liquidation of the latter, were registered in the Public   Registry of Commerce under the responsibility of the Inspecci&#243;n General de   Justicia on August&nbsp;30, 2018.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><u><font size="5" color="#3366ff" face="Arial" style="color:#3366FF;font-size:18.0pt;font-weight:bold;">Other Relevant   Matters</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">New syndicated loan and partial   prepayment of the syndicated loan agreement celebrated in February&nbsp;2018.</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">On October&nbsp;8, Telecom Argentina   S.A. took due notice of the acceptance by Citibank, N.A., HSBC M&#233;xico   S.A.,&nbsp;Instituci&#243;n de Banca M&#250;ltiple, Grupo Financiero   HSBC,&nbsp;Industrial and Commercial Bank of China Limited, Dubai (DIFC)   Branch, JPMorgan Chase Bank, N.A. and Banco Santander, S.A., as lenders,   Citibank N.A., HSBC M&#233;xico, S.A.,&nbsp;Instituci&#243;n de Banca M&#250;ltiple, Grupo   Financiero HSBC,&nbsp;Industrial and Commercial Bank of China Limited, Dubai   (DIFC) Branch, JPMorgan Chase Bank, N.A. and Banco Santander S.A., as joint   bookrunners and lead arrangers, Citibank N.A., as administrative agent and   the Branch of Citibank N.A, established in the Republic of Argentina, as   onshore custody agent, of the offer to enter into a loan agreement delivered   by the Company for an amount of up to U$S 500,000,000 (which may be   increased, in accordance with the terms and conditions thereof) and with a   48-month tenor (the &#147;Loan&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">On October&nbsp;17, 2018 the Company   requested a disbursement in the framework of the Loan, for an amount of U$S   500,000,000. Those funds were used to partially prepay the syndicated loan   agreement by the Company on February&nbsp;2, 2018, for an amount of up to U$S   1,000,000,000 and with a 12-month tenor (the &#147;Original Loan&#148;). For its part,   the disbursed amount will accrue compensatory interest at a rate per annum   equal to LIBOR plus the following margin: 4.50 percentage points during the   first year as from the borrowing date, 5.00 percentage points, during the   second year and 5.25 percentage points from the date that is two years after   the borrowing date to the expiration date; and will be payable quarterly, in   arrears.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">7</font><a name="PB_7_001146_7056"></a></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.94%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Arial"><img width="87" height="41" src="g398361ka03i001.gif"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">Additionally, as a condition   precedent to the execution of the Loan, the Company and the remaining parties   to the Original Loan agreed to amend certain terms of the Original Loan,   including a mandatory prepayment of an amount of at least U$S 100,000,000 so   that the outstanding aggregate principal amount under the Original Loan,   after taking into account any prepayment made with the proceeds from the   Loan, does not exceed U$S 400,000,000 on the date of receipt of such   advances. The aforementioned mandatory prepayment was executed on   October&nbsp;17, 2018.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">International Finance Corporation   (IFC) Loan</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">On October&nbsp;30, 2018, within the   framework of its permanent optimization policy for the term, rate and   structure of its financial liabilities, Telecom Argentina has accepted a   proposal from the International Finance Corporation (IFC) for the evaluation   and mobilization of funds with the purpose of financing investment needs,   working capital and refinancing of liabilities for an amount up to U$S 350   million.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.0%;">
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" color="#a6a6a6" face="Arial" style="color:#A6A6A6;font-size:11.0pt;font-weight:bold;">*******</font></b></p>    </td>
<td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">8</font><a name="PB_8_001520_5796"></a></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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</div>
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<div style="page-break-before:always;"></div>
<div>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Arial"><img width="87" height="41" src="g398361ka05i001.gif"></font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.0pt;">Telecom Argentina is the parent company of a leading telecommunications group in Argentina, where it offers, either itself or through its controlled subsidiaries local and long distance fixed-line telephony, cellular, data transmission, and pay TV and Internet services, among other services. Additionally, Telecom Argentina offers cellular services in Paraguay and pay TV services in Uruguay. The Company commenced operations on November&nbsp;8, 1990, upon the Argentine government&#146;s transfer of the telecommunications system in the northern region of Argentina.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial"><img width="324" height="255" src="g398361ka05i002.jpg"></font></p>    </td>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">As of November 7, 2018,   Telecom Argentina has 2,168,909,384 shares issued and 2,153,688,011 shares   outstanding.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 212.65pt;text-indent:-212.65pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">For more information, please contact Investor Relations:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Solange Barthe Dennin</font></p>    </td>
<td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Luis F. Rial Ubago</font></p>    </td>
<td width="16%" valign="top" style="padding:0in 0in 0in 0in;width:16.66%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Nahuel Monsalvo</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(5411) 4968 3752</font></p>    </td>
<td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(5411) 4968 3718</font></p>    </td>
<td width="16%" valign="top" style="padding:0in 0in 0in 0in;width:16.66%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(5411) 4698 4448</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">Voice</font><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;"> Mail: (5411) 4968 3628</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">Fax: (5411) 4968 3616</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">E-mail: </font><u><font size="1" color="blue" face="Arial" style="color:blue;font-size:8.0pt;">relinver@teco.com.ar</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">For information about Telecom Argentina&#146;s services, visit:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">www.telecom.com.ar</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">www.personal.com.ar</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">www.personal.com.py</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">www.arnet.com.ar</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">www.cablevisionfibertel.com.ar</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">www.nextel.com.ar</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><u><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">Disclaimer</font></u></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">This document may contain statements that could constitute forward-looking statements, including, but not limited to, the Company&#146;s expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; the effects of its debt restructuring process; the impact of emergency laws enacted by the Argentine Government; and the impact of rate changes and competition on the Company&#146;s future financial performance. Forward-looking statements may be identified by words such as &#145;believes,&#146; &#145;expects,&#146; &#145;anticipates,&#146; &#145;projects,&#146; &#145;intends,&#146; &#145;should,&#146; &#145;seeks,&#146; &#145;estimates,&#146; &#145;future&#146; or other similar expressions. Forward-looking statements involve risks and uncertainties that could significantly affect the Company&#146;s expected results. The risks and uncertainties include, but are not limited to, the impact of emergency laws enacted by the Argentine government that have resulted in the repeal of Argentina&#146;s Convertibility law, devaluation of the peso, various changes in restrictions on the ability to exchange pesos into foreign currencies,&#160; and currency transfer policy generally, the &#145;pesification&#146; of tariffs charged for public services, the elimination of indexes to adjust rates charged for public services and the Executive branch announcement to renegotiate the terms of the concessions granted to public service providers, including Telecom. Due to extensive changes in laws and economic and business conditions in Argentina, it is difficult to predict the impact of these changes on the Company&#146;s financial condition. Other factors may include, but are not limited to, the evolution of the economy in Argentina, growing inflationary pressure and evolution in consumer spending and the outcome of certain legal proceedings. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as the date of this document. The Company undertakes no obligation to release publicly the results of any revisions to forward-looking statements which may be made to reflect events and circumstances after the date of this press release, including, without limitation, changes in the Company&#146;s business or to reflect the occurrence of unanticipated events. Readers are encouraged to consult the Company&#146;s Annual Report on Form&nbsp;20-F, as well as periodic filings made on Form&nbsp;6-K, which are filed with or furnished to the United States Securities and Exchange Commission for further information concerning risks and uncertainties faced by Telecom.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:8.0pt;">(Financial tables follow)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">*******</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">9</font><a name="PB_9_133220_7601"></a></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='9',FILE='C:\JMS\109206\18-39836-1\task9122107\39836-1-ka-05.htm',USER='109206',CD='Nov  8 17:15 2018' -->

<div style="page-break-before:always;"></div>
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Arial"><img width="87" height="41" src="g398361ka05i001.gif"></font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A.</font></i></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated information</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Nine month period and Third Quarter - Fiscal Year 2018</font></i></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">1-</font></b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated Balance Sheet</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="83%" style="border-collapse:collapse;margin-left:.25in;">
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">12/31/17</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Cash and cash equivalents</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">9,737</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">4,414</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Financial Investments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">7,978</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">110</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Trade receivables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">12,953</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,753</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Other Receivables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">4,532</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">828</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Inventories</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">2,831</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">83</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Total current assets</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">38,031</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">7,188</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Financial Investments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">5,264</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Trade receivables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">63</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Goodwill</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">64,073</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">4,109</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Property, plant and equipment   (&#145;PP&amp;E&#146;)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">97,513</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">22,080</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Intangible assets</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">42,180</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">2,368</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Other Receivables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,761</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">531</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Total non-current assets</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">210,854</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">29,088</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">TOTAL ASSETS</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">248,885</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">36,276</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Trade payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">24,157</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">3,886</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Financial debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">52,734</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">937</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Salaries and social security payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">4,568</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,751</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Taxes payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,833</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,858</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Dividend Payable</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">-</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">4,078</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Other liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,595</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">103</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Provisions</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">491</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Total current liabilities</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">85,378</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">12,613</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Trade payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,279</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Financial debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">38,146</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">9,907</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Salaries and social security payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">245</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Deferred income tax liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">8,582</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">266</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Taxes payables</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">29</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">3</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Other liabilities</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">915</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">134</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Provisions</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">3,380</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,092</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Total non-current liabilities</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">52,576</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">11,402</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">TOTAL LIABILITIES</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">137,954</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">24,015</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Equity attributable to Controlling   Company</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">108,000</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">11,694</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">2,931</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">567</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">TOTAL EQUITY</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">110,931</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">12,261</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">TOTAL LIABILITIES   AND EQUITY</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">248,885</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">36,276</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:9.0pt;font-weight:bold;">2-</font></b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:9.0pt;font-weight:bold;">Consolidated Loans</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="83%" style="border-collapse:collapse;margin-left:.25in;">
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 2.15pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:9.0pt;font-weight:bold;">12/31/17</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Bank overdrafts - principal</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">187</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Bank and other financial institutions   loans - principal</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">46,316</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">52</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Notes - principal</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">2,227</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Accrued interest and related expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">2,684</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">29</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">For purchase of equipment</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">1,320</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">852</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Companies under Section&nbsp;33 - Law   19,550 and related parties</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">-</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">4</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Total Current Loans</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;font-weight:bold;">52,734</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;font-weight:bold;">937</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">For purchase of equipment</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">1,034</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">465</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Notes - principal</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">20,604</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">9,325</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Bank and other financial institutions   loans - principal</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">14,978</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">142</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Accrued interest and related expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">1,530</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">(25</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Total Non Current Loans</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;font-weight:bold;">38,146</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;font-weight:bold;">9,907</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Total Loans</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border:none;border-bottom:solid gray 1.5pt;padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;font-weight:bold;">90,880</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border:none;border-bottom:solid gray 1.5pt;padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;font-weight:bold;">10,844</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Cash and cash   equivalents, and Financial Investments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">22,979</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">4,524</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.08%;">
<p style="margin:4.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Net Financial   Position - Cash (Debt)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.98%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;font-weight:bold;">(67,901)</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="14%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:14.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;font-weight:bold;">(6,320)</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.14%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">10</font><a name="PB_10_134342_7056"></a></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="gray" face="Arial" style="color:gray;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
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<div style="page-break-before:always;"></div>
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial"><img width="79" height="43" src="g398361ka07i001.gif"></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A.</font></i></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated information</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-style:italic;font-weight:bold;">Nine month period and Third Quarter - Fiscal Year 2018</font></i></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">(In million of Argentine pesos)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">3-</font></b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&#160;&#160;&#160; <b><u style="font-weight:bold;">Effect of Business Combination - over Assets, Liabilities, Equity and Income</u></b></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="90%" style="border-collapse:collapse;margin-left:.25in;">
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">Telecom</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">Adjustments</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">NIIF 3</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">Total</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">(acquired</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">on Income of</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">Merger</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">indentifiable</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">Company)</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">Previous FY&#146;s</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">Effect</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">net </font></b><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:8.0pt;font-weight:bold;">assets,</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:8.0pt;font-weight:bold;">&nbsp;inc. as of</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="center" style="margin:2.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">(1)</font></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">(2)</font></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">(3)</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.0pt;font-weight:bold;">01.01.2018</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">ASSETS</font></b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;"><br>    <b>CURRENT ASSETS</b></font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Cash and cash equivalents</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">2,831</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">2,831</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Trade receivables </font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">8,636</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">157</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(656)</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:.7pt 0in .7pt 0in;width:5.4%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(4)</font></p>    </td>
<td width="8%" valign="top" style="padding:.7pt 0in .7pt 0in;width:8.34%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">8,137</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Other current assets </font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">6,771</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">32</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:5.4%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(4)</font></p>    </td>
<td width="8%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:8.34%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">6,803</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Total current assets</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">18,238</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">157</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">(624)</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">17,771</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">NON CURRENT ASSETS</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Deferred income tax assets</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">626</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(624)</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Investments</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">2,657</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">3</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">2,660</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Goodwill</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">2</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">59,653</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">59,655</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Property, plant and equipment   (&#145;PP&amp;E&#146;) </font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">28,538</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">34,209</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:.7pt 0in .7pt 0in;width:5.4%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(4)</font></p>    </td>
<td width="8%" valign="top" style="padding:.7pt 0in .7pt 0in;width:8.34%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">62,747</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Intangible assets</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">7,096</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(85)</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">33,175</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">40,186</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Other non current assets </font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">431</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">125</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(125)</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:5.4%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(4)</font></p>    </td>
<td width="8%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:8.34%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">431</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Total non currents assets</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">39,350</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">40</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">126,291</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">165,681</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Total assets</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">57,588</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">197</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">125,667</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">183,452</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">LIABILITIES</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">CURRENT LIABILITIES</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Total current liabilities</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">21,987</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">-</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">7</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">21,994</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">NON CURRENT LIABILITIES</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Deferred income tax liabilities</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">48</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">83</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">16,610</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">16,741</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Other non current liabilities</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">11,674</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">18</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">11,692</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Total non current liabilities</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">11,722</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">83</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">16,628</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">28,433</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Total Liabilities</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">33,709</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">83</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">16,635</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">50,427</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">EQUITY</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Capital Stock - Outstanding Shares</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">969</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(15)</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">954</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Inflation Adjustment &#150; Outstanding Shares</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">2,646</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">2,646</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Capital Stock - Treasury Shares</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">15</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Inflation Adjustment &#150; Treasury Shares</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">42</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">42</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Treasury shares acquisition cost</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(461)</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(461)</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Merger Premium</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">109,469</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">109,469</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Legal reserve</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">734</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">734</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Special reserve for IFRS implementation</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">351</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">351</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Voluntary reserve for investments in   capital stock</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">461</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">461</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Reserve for future cash dividend payments</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">9,730</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">9,730</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Other comprehensive income</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">972</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(972)</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Cost of equity interest increase in   controlled companies</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(3)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="bottom" style="padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">3</font></p>    </td>
<td width="2%" valign="bottom" style="padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="bottom" style="padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Retained earnings</font></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">7,630</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">128</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">-</font></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">7,758</font></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Equity attributable to Telecom   Argentina</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">23,086</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">128</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">108,485</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">131,699</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Equity attributable to   non-controlling interest</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.5pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">793</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.5pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.5pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">(14)</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.5pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.5pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">547</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.5pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.5pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">1,326</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">TOTAL EQUITY</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">23,879</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">114</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">109,032</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">133,025</font></b></p>    </td>   </tr>
<tr>
<td width="40%" valign="top" style="padding:.7pt 0in .7pt 0in;width:40.14%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">TOTAL LIABILITIES AND EQUITY</font></b></p>    </td>
<td width="2%" valign="top" style="padding:.7pt 0in .7pt 0in;width:2.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="border:none;border-bottom:solid gray 2.25pt;padding:.7pt 0in .7pt 0in;width:12.52%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">57,588</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 2.25pt;padding:.7pt 0in .7pt 0in;width:2.4%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="border:none;border-bottom:solid gray 2.25pt;padding:.7pt 0in .7pt 0in;width:13.42%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">197</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 2.25pt;padding:.7pt 0in .7pt 0in;width:2.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="border:none;border-bottom:solid gray 2.25pt;padding:.7pt 0in .7pt 0in;width:10.04%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">125,667</font></b></p>    </td>
<td width="2%" valign="top" style="border:none;border-bottom:solid gray 2.25pt;padding:.7pt 0in .7pt 0in;width:2.76%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" colspan="2" valign="top" style="border:none;border-bottom:solid gray 2.25pt;padding:.7pt 0in .7pt 0in;width:13.72%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">183,452</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:7.0pt;">(1)&nbsp;According to the consolidated financial statements of Telecom as of December&nbsp;31, 2017, approved by the Board of Directors of the Company on March&nbsp;7, 2018. P$2MM</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:7.0pt;">of Tuves Paraguay&#146;s goodwill was reclassified from intangible assets to goodwill.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:7.0pt;">(2)&nbsp;Adjustment to results of previous fiscal years corresponding to initial balances of Telecom Argentina prior to the merger in application of IFRS 9 and IFRS 15 as of fiscal</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:7.0pt;">year 2018.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:7.0pt;">(3)&nbsp;Adjustments to the book value of the net assets of Telecom to fair value in accordance with IFRS 3.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:7.0pt;">(4)&nbsp;Fair value estimations are net of provisions for P$1,677 million, which are deducted from assets.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="80%" style="border-collapse:collapse;margin-left:.45in;">
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:0in 0in .0001pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">Impact&nbsp;of&nbsp;greater&nbsp;asigned&nbsp;value&nbsp;over&nbsp;consolidated&nbsp;income&nbsp;</font></u></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">Three month   period</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">Nine month period</font></b></p>    </td>   </tr>
<tr>
<td width="57%" valign="bottom" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:1.0pt 0in .0001pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">statements</font></u></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">ended September</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">ended September</font></b></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">30, 2018</font></b><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3366ff" face="Arial" style="color:#3366FF;font-size:8.0pt;font-weight:bold;">&nbsp;</font></b><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">30, 2018</font></b></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Revenues</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(5)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(16)</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Operating costs before   D&amp;A</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(27)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(127)</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Operating income   before D&amp;A</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">(32)</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">(143)</font></b></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Depreciation, amortization   (&#145;D&amp;A&#146;) and impairment of PP&amp;E</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(1,852)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(5,049)</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">(1,884)</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">(5,192)</font></b></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Finance results, net</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">9</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">24</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Net (loss) income   before income tax expense</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">(1,875)</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">(5,168)</font></b></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">562</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">1,550</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">Net (loss) Income</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">(1,313)</font></b></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="19%" valign="top" style="border:none;border-bottom:solid gray 1.0pt;padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;font-weight:bold;">(3,618)</font></b></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Controlling Company</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(1,300)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(3,579)</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.52%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">Attributable to non   controlling interest</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.3%;">
<p style="margin:2.4pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(13)</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.2%;">
<p align="center" style="margin:2.4pt 0in .0001pt;text-align:center;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.0%;">
<p align="right" style="margin:2.4pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:7.0pt;">(39)</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font color="#818181" face="Arial" style="color:#818181;font-weight:bold;">11</font></b><a name="PB_11_140133_7056"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<div style="page-break-before:always;"></div>
<div>
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="#3265ff" face="Times New Roman" style="color:#3265FF;font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="3" face="Times New Roman"><img width="99" height="53" src="g398361ka09i001.jpg"></font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="#3265ff" face="Times New Roman" style="color:#3265FF;font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A. <br>  </font></i></b><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated information <br>  <i>Nine month period and Third Quarter - Fiscal Year 2018 <br>  </i>(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="90%" style="border-collapse:collapse;">
<tr>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">4-</font></b></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated Income Statements - as reported in   FFSS</font></u></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Revenues</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">99,494</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">29,778</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Consolidated Operating Costs</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(79,550)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(21,344)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">19,944</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">8,434</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;position:relative;top:-1.0pt;">Net Financial results and results of equity in earnings from   associates</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(47,089)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(1,473)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Net (loss) income before income tax expense</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">(27,145)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">6,961</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Income tax expense</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">8,605</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(2,405)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Net (loss) income</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">(18,540)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">4,556</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;position:relative;top:-.5pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Times New Roman" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Times New Roman" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;position:relative;top:-.5pt;">Attributable to:</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Times New Roman" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Times New Roman" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Controlling   Company</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(18,589)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">4,503</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Non-controlling   interest</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">49</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">53</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Operating income before D&amp;A</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">35,196</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">11,274</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">As % of Revenues</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">35.4%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">37.9%</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Net Financial   results</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><i><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-style:italic;">Financial   expenses on debt</font></i></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Times New Roman" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Times New Roman" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Interest   on debt</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(2,540)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(479)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Exchange   differences on debt</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(45,546)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(854)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Other   financial expenses</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">106</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">46</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Total financial   expenses on debt</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">(47,980)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">(1,287)</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><i><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-style:italic;">Other   financial results, net</font></i><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;"><br>   Interest and gains on investments</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,073</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">97</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Taxes   and bank expenses</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(1,002)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(364)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Exchanges   differences on cash and cash equivalents</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">2,862</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">19</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Exchanges   differences from other items</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(3,180)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">3</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Financial   discounts on assets, debts and diverse</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Results   for operations with notes and bonds</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,491</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(26)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Interest   on provisions</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(441)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(31)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Quinquennial   financial costs</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(43)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">-</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 20.2pt;text-indent:-10.1pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Others</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(13)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Total other financial results, net</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="border:none;border-bottom:solid #7F7F7F 1.0pt;padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">762</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="border:none;border-bottom:solid #7F7F7F 1.0pt;padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">(302)</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Total net financial results</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">(47,218)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">(1,589)</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">5-</font></b></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated Income Statements - as reported in   FFSS</font></u></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Three Months Comparison</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="64%" valign="bottom" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:5.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Revenues</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">35,315</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">10,545</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Consolidated Operating   Costs</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(29,025)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(7,804)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">6,290</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">2,741</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Net Financial results and results of equity in earnings from associates</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(26,333)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(657)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Net (loss) income   before income tax expense</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">(20,043)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">2,084</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Income tax expense</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">6,375</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(700)</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Net (loss) income</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">(13,668)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">1,384</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Attributable to:</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.14%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.32%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Controlling   Company</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">(13,677)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">1,364</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt 17.3pt;text-indent:-10.1pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">Non-controlling   interest</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">9</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">20</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">Operating income   before D&amp;A</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">11,900</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;font-weight:bold;">3,748</font></b></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="64%" style="padding:0in 0in 0in 0in;width:64.62%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">As % of Revenues</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.12%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.14%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">33.7%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.32%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:9.0pt;">35.5%</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;">12</font><a name="PB_12_234008_2686"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#818181" face="Arial" style="color:#818181;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="67%" valign="top" style="padding:0in 0in 0in 0in;width:67.06%;">
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.94%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Arial"><img width="87" height="41" src="g398361ka11i001.gif"></font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A. <br>  </font></i></b><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated information <br>  <i>Nine month period and Third Quarter - Fiscal Year 2018 <br>  </i>(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .2in;text-indent:-.2in;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">6-</font></b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated Income Statements - Pro Forma</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="96%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:.25in;">
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<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Revenues</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">99,494</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">76,920</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">22,574</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">29.3%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Consolidated Operating Costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(79,550)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(63,066)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(16,484)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">26.1%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">19,944</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">13,854</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">6,090</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">44.0%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Net Financial   results and results of equity in earnings from associates</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(47,089)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2,165)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(44,924)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net (loss) income before income tax expense</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(27,145)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">11,689</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(38,834)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">8,605</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(4,047)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">12,652</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net (loss) income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(18,540)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">7,642</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(26,182)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Attributable to:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Controlling Company</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(18,589)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,571</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(26,160)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">49</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">71</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(22)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-31.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">35,196</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">25,807</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">9,389</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">36.4%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">As % of Revenues</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">35.4%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">33.6%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="96%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:.25in;">
<tr>
<td width="39%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net   Financial results</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&#916;%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><i><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-style:italic;">Financial expenses on debt</font></i></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Interest on debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(2,540)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,111)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,429)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">128.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Exchange differences on debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(45,546)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,487)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(44,059)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Other financial expenses on debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">106</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">46</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">60</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">130.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total financial expenses on debt</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(47,980)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(2,552)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(45,428)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><i><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-style:italic;">Other financial results, net</font></i></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Interest and gains on investments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,073</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,329</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(256)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-19.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Taxes and bank expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,002)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(804)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(198)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">24.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Exchanges differences on cash and cash equivalents</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,862</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">29</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,833</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Exchanges differences from other items</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(3,180)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">71</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(3,251)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Financial discounts on assets, debts and diverse</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">13</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(12)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-92.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Results for operations with notes and bonds</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,491</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(26)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1,517</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Interest on provisions</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(441)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(268)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(173)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">64.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Quinquennial financial costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(43)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(35)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(8)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">22.9%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Others</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">1</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(38)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">39</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-102.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total other financial results, net</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">762</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">271</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">491</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid gray 1.0pt;padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">181.2</font></b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Total net financial results</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(47,218)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(2,281)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(44,937)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">7-</font></b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated Income Statements - Pro Forma</font></u></b></p>
<table border="0" cellspacing="0" cellpadding="0" width="96%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:.25in;">
<tr>
<td width="39%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Three&nbsp;Months&nbsp;Comparison</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Revenues</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">35,315</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">27,215</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,100</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">29.8%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Consolidated Operating Costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(29,025)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(22,481)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(6,544)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">29.1%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">6,290</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,734</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,556</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">32.9%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Net Financial   results and results of equity in earnings from associates</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(26,333)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(821)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(25,512)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net (loss) income before income tax expense</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(20,043)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,913</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(23,956)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">6,375</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(1,332)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">7,707</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Net (loss) income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(13,668)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,581</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">(16,249)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Attributable to:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Controlling Company</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(13,677)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">2,543</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(16,220)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">9</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">38</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">(29)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">-76.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Operating income before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">11,900</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,759</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,141</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">35.9%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">As % of Revenues</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">33.7%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;">32.2%</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.08%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">13</font><a name="PB_13_145555_5224"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.32%;">
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<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
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<td width="67%" valign="top" style="padding:0in 0in 0in 0in;width:67.06%;">
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.94%;">
<p align="right" style="margin:0in .3in .0001pt 0in;text-align:right;"><font size="2" face="Arial"><img width="87" height="41" src="g398361ka11i001.gif"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A. <br>  </font></i></b><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated information <br>  <i>Nine month period and Third Quarter - Fiscal Year 2018 <br>  </i>(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">8-</font></b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Breakdown of the Income Statements - as reported in FFSS</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="96%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:.25in;">
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<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES FROM SERVICES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">91,910</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">29,585</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Mobile Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">34,511</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,865</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Internet Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">22,448</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">11,308</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Cable TV Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">21,417</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">15,022</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Fixed Telephony and Data Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">13,086</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">998</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Other revenues from services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">448</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">392</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES FROM EQUIPMENT SALES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">7,584</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">193</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">99,494</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">29,778</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">9-</font></b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Breakdown of the Income Statements - as reported in FFSS</font></u></b></p>
<table border="0" cellspacing="0" cellpadding="0" width="96%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:.25in;">
<tr>
<td width="39%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Three&nbsp;Months&nbsp;Comparison</font></b></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES FROM SERVICES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">32,777</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">10,506</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Mobile Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">12,113</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">628</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Internet Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,013</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,580</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Cable TV Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">7,545</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,911</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Fixed Telephony and Data Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,839</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">292</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Other revenues from services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">267</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">95</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES FROM EQUIPMENT SALES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">2,538</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">39</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">35,315</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">10,545</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">10-</font></b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Breakdown of the Income Statements - Pro Forma</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="96%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:.25in;">
<tr>
<td width="39%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES FROM SERVICES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">91,910</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">71,110</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">20,800</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">29.3%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Mobile Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">34,511</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">29,176</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">5,335</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">18.3%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Internet Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">22,448</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">16,929</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">5,519</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">32.6%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Cable TV Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">21,417</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">15,022</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">6,395</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">42.6%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Fixed Telephony and Data Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">13,086</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">9,591</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">3,495</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">36.4%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Other revenues from services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">448</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">392</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">56</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">14.3%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES FROM EQUIPMENT SALES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">7,584</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">5,810</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">1,774</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">30.5%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">99,494</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">76,920</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">22,574</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">29.3%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">11-</font></b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Breakdown of the Income Statements - Pro Forma</font></u></b></p>
<table border="0" cellspacing="0" cellpadding="0" width="96%" bgcolor="black" style="background:white;border-collapse:collapse;margin-left:.25in;">
<tr>
<td width="39%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Three&nbsp;Months&nbsp;Comparison</font></b></p>
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES FROM SERVICES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">32,777</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">25,013</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">7,764</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">31.0%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Mobile Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">12,113</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">10,180</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,933</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">19.0%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Internet Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">8,013</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">6,092</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">1,921</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">31.5%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Cable TV Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">7,545</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,911</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">2,634</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">53.6%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Fixed Telephony and Data Services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,839</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">4,001</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">838</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">20.9%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">Other revenues from services</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">267</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-171</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">438</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="gray" face="Arial" style="color:gray;font-size:9.0pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES FROM EQUIPMENT SALES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">2,538</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">2,202</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">336</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">15.3%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="39%" valign="top" style="padding:1.45pt 0in 1.45pt 0in;width:39.0%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">REVENUES</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:13.16%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">35,315</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.84%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.86%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">27,215</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.14%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">8,100</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:2.12%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:12.84%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">29.8%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:1.45pt 0in 1.45pt 0in;width:1.06%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="gray" face="Arial" style="color:gray;">14</font><a name="PB_14_150926_5335"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.32%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
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<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="67%" valign="top" style="padding:0in 0in 0in 0in;width:67.06%;">
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.94%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial"><img width="87" height="41" src="g398361ka13i001.gif"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A.</font></i></b></p>
<p align="center" style="margin:1.5pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">Consolidated information</font></b></p>
<p align="center" style="margin:1.5pt 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-style:italic;font-weight:bold;">Nine month period and Third Quarter - Fiscal Year 2018</font></i></b></p>
<p align="center" style="margin:1.5pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">12-</font></b></p>    </td>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated Income Statements - as   reported in FFSS</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:6.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:6.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:6.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:6.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Revenues</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">99,494</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">29,778</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:2.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Employee benefit expenses and severance payments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(17,596)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(5,166)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Interconnection and transmission costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(3,203)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(554)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Fees for services, maintenance, materials and supplies</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(9,245)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(3,365)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Taxes and fees with the regulatory authority</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(8,009)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,181)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Commissions and advertising</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(6,333)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,462)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Cost of equipments and handsets</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(5,370)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(253)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Programming and content costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(7,144)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(3,874)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Bad debt expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,990)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(384)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Other operating income and expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(5,408)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,265)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Subtotal Operating costs before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(64,298)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(18,504)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Operating income before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">35,196</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">11,274</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Depreciation, amortization (&#145;D&amp;A&#146;) and impairment of PP&amp;E</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(15,252)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,840)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">19,944</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">8,434</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Equity in earnings from associates</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">129</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">116</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Financial expenses on debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(47,980)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,287)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Other financial results, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">762</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(302)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Net (loss) income before income tax expense</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(27,145)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">6,961</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">8,605</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,405)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Net (loss) Income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid #818181 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(18,540)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid #818181 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">4,556</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Attributable to:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Controlling Company</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(18,589)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">4,503</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">49</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">53</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:7.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:6.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:6.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:6.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:6.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:6.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:6.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">13-</font></b></p>    </td>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Consolidated Income Statements - as   reported in FFSS</font></u></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:9.0pt;font-weight:bold;">Three&nbsp;Months&nbsp;Comparison</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p style="margin:0in 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p style="margin:0in 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:6.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:6.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Revenues</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">35,315</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:3.0pt 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">10,545</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Employee benefit expenses and severance payments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(6,542)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,935)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Interconnection and transmission costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,229)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(198)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Fees for services, maintenance, materials and supplies</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(3,550)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,220)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Taxes and fees with the regulatory authority</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,774)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(769)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Commissions and advertising</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,299)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(587)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Cost of equipments and handsets</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,774)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(98)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Programming and content costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,615)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,387)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Bad debt expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(717)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(132)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Other operating income and expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,915)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(471)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Subtotal Operating costs before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(23,415)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(6,797)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Operating income before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">11,900</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">3,748</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Depreciation, amortization (&#145;D&amp;A&#146;) and impairment of PP&amp;E</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(5,610)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,007)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Operating income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">6,290</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">2,741</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Equity in earnings from associates</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">38</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">38</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Financial expenses on debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(26,580)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(549)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Other financial results, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">209</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(146)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Net (loss) income before income tax expense</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(20,043)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">2,084</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">6,375</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(700)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Net (loss) Income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid #818181 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(13,668)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid #818181 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">1,384</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Attributable to:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Controlling Company</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(13,677)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">1,364</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">9</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">20</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 0in .0001pt;text-align:right;"><b><font size="1" color="#3365ff" face="Arial" style="color:#3365FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="#7f7f7f" face="Arial" style="color:#7F7F7F;">15</font><a name="PB_15_123100_3727"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
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<td width="67%" valign="top" style="padding:0in 0in 0in 0in;width:67.06%;">
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:15.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.94%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial"><img width="87" height="41" src="g398361ka13i001.gif"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-style:italic;font-weight:bold;">TELECOM ARGENTINA S.A.</font></i></b></p>
<p align="center" style="margin:1.5pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">Consolidated information</font></b></p>
<p align="center" style="margin:1.5pt 0in .0001pt;text-align:center;"><b><i><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-style:italic;font-weight:bold;">Nine month period and Third Quarter - Fiscal Year 2018</font></i></b></p>
<p align="center" style="margin:1.5pt 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">(In million of Argentine pesos)</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">14-</font></b></p>    </td>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">Consolidated Income   Statements - Pro Forma</font></u></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="bottom" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Revenues</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">99,494</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">76,920</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">22,574</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">29.3%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Employee benefit expenses and   severance payments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(17,596)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(14,324)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(3,272)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">22.8%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Interconnection and transmission costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(3,203)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,743)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(460)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">16.8%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Fees for services, maintenance,   materials and supplies</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(9,245)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(8,234)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,011)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">12.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Taxes and fees with the regulatory   authority</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(8,009)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(6,150)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,859)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">30.2%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Commissions and advertising</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(6,333)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(4,916)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,417)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">28.8%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Cost of equipments and handsets</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(5,370)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(4,923)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(447)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">9.1%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Programming and content costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(7,144)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(4,564)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,580)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">56.5%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Bad debt expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,990)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,304)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(686)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">52.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Other operating income and expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(5,408)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(3,955)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,453)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">36.7%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Subtotal   Operating costs before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(64,298)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(51,113)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(13,185)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">25.8%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Operating   income before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">35,196</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">25,807</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">9,389</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">36.4%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Depreciation, amortization (&#145;D&amp;A&#146;)   and impairment of PP&amp;E</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(15,252)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(11,953)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(3,299)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">27.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Operating   income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">19,944</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">13,854</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">6,090</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">44.0%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Equity in earnings from associates</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">129</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">116</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">13</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">11.2%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Financial expenses on debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(47,980)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,552)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(45,428)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Other financial results, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">762</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">271</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">491</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">181.2%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Net   (loss) income before income tax expense</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(27,145)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">11,689</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(38,834)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">8,605</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(4,047)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">12,652</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Net   (loss) Income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid #818181 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(18,540)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid #818181 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">7,642</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid #818181 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(26,182)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Attributable to:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Controlling Company</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(18,589)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">7,571</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(26,160)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">49</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">71</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(22)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:2.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-31.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:2.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:8.5pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">15-</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><u><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">Consolidated   Income Statements - Pro Forma</font></u></b></p>
<p style="margin:2.5pt 0in .0001pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">Three&nbsp;Months&nbsp;Comparison</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">09/30/18</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">09/30/17</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&#916;&nbsp;$</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:0in 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:8.5pt;font-weight:bold;">&#916;&nbsp;%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Revenues</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">35,315</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">27,215</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">8,100</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">29.8</font></b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">  <b>%</b></font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Employee benefit expenses and   severance payments</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(6,542)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(5,215)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,327)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">25.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Interconnection and transmission costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,229)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(917)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(312)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">34.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Fees for services, maintenance,   materials and supplies</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(3,550)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(3,072)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(478)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">15.6%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Taxes and fees with the regulatory   authority</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,774)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,156)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(618)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">28.7%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Commissions and advertising</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,299)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,759)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(540)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">30.7%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Cost of equipments and handsets</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,774)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,972)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">198</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-10.0%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Programming and content costs</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(2,615)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,611)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,004)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">62.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Bad debt expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(717)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(377)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(340)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">90.2%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Other operating income and expenses</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,915)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,377)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(538)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">39.1%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Subtotal   Operating costs before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(23,415)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(18,456)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(4,959)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">26.9%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Operating   income before D&amp;A</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">11,900</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">8,759</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">3,141</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">35.9%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Depreciation, amortization (&#145;D&amp;A&#146;)   and impairment of PP&amp;E</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(5,610)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(4,025)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,585)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">39.4%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Operating   income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">6,290</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">4,734</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">1,556</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">32.9%</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Equity in earnings from associates</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">38</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">38</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">&#151;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Financial expenses on debt</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(26,580)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,045)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(25,535)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Other financial results, net</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">209</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">186</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">23</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Net   (loss) income before income tax expense</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(20,043)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">3,913</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(23,956)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Income tax expense</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">6,375</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(1,332)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">7,707</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">Net   (loss) Income</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid #818181 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(13,668)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid #818181 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">2,581</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="border:none;border-bottom:solid #818181 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">(16,249)</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><b><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;font-weight:bold;">-</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Attributable to:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Controlling Company</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(13,677)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">2,543</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(16,220)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:2.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" color="#3265ff" face="Arial" style="color:#3265FF;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
<p style="margin:4.0pt 0in .0001pt .05in;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">Non-controlling interest</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">9</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">38</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">(29)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:4.0pt 1.45pt .0001pt 0in;"><font size="1" color="gray" face="Arial" style="color:gray;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
<p align="right" style="margin:4.0pt 1.45pt .0001pt 0in;text-align:right;"><font size="1" color="#818181" face="Arial" style="color:#818181;font-size:8.5pt;">-76.3%</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:4.0pt 0in .0001pt;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p style="margin:0in 0in .0001pt;"><font size="1" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font color="#7f7f7f" face="Arial" style="color:#7F7F7F;">16</font><a name="PB_16_123118_2897"></a></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="#7f7f7f" face="Arial" style="color:#7F7F7F;font-size:10.0pt;font-weight:bold;">www.telecom.com.ar</font></b></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
